Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases $84,739.93 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,187 shares of the firm’s stock in a transaction on Monday, June 22nd. The shares were purchased at an average price of $71.39 per share, with a total value of $84,739.93. Following the completion of the acquisition, the insider directly owned 4,751,539 shares of the company’s stock, valued at approximately $339,212,369.21. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Angeliki Frangou also recently made the following trade(s):

• On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou acquired 1,126 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.34 per share, for a total transaction of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.18 per share, for a total transaction of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou purchased 1,175 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.09 per share, with a total value of $84,705.75.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.66 per share, with a total value of $83,627.22.

Navios Maritime Partners Stock Down 1.9%

Shares of Navios Maritime Partners stock opened at $71.12 on Thursday. Navios Maritime Partners LP has a 1 year low of $36.62 and a 1 year high of $80.69. The business has a 50-day moving average of $72.00 and a two-hundred day moving average of $64.67. The company has a market capitalization of $2.04 billion, a P/E ratio of 5.99 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million for the quarter, compared to analysts’ expectations of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.Navios Maritime Partners’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.06 per share. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s payout ratio is currently 2.02%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NMM. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Finally, Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Navios Maritime Partners has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Trading of Navios Maritime Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMM. Royal Bank of Canada lifted its stake in Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in Navios Maritime Partners in the first quarter worth $63,000. State of Wyoming bought a new stake in shares of Navios Maritime Partners in the fourth quarter valued at $137,000. Corient Private Wealth LLC purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at $207,000. Finally, Mariner LLC purchased a new position in shares of Navios Maritime Partners during the 4th quarter valued at $208,000. 62.74% of the stock is owned by institutional investors.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.