Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,170 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,170 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average price of $70.65 per share, for a total transaction of $82,660.50. Following the acquisition, the insider owned 4,733,023 shares in the company, valued at approximately $334,388,074.95. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, May 29th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $69.57 per share, for a total transaction of $83,205.72.
• On Wednesday, May 27th, Angeliki Frangou acquired 1,132 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.61 per share, for a total transaction of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou acquired 1,107 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou bought 1,160 shares of Navios Maritime Partners stock. The shares were bought at an average price of $73.24 per share, for a total transaction of $84,958.40.
• On Monday, May 18th, Angeliki Frangou bought 1,163 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.85 per share, for a total transaction of $83,561.55.
• On Friday, May 15th, Angeliki Frangou bought 1,172 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.61 per share, for a total transaction of $83,712.09.

Navios Maritime Partners Price Performance

Shares of NYSE:NMM opened at $69.23 on Friday. The business’s fifty day moving average price is $70.51 and its two-hundred day moving average price is $62.20. The stock has a market cap of $1.98 billion, a PE ratio of 5.83 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.13 and a current ratio of 1.45. Navios Maritime Partners LP has a one year low of $36.62 and a one year high of $80.69.

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

Navios Maritime Partners Increases Dividend

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

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds have recently made changes to their positions in the business. ION Fund Management Ltd acquired a new stake in shares of Navios Maritime Partners in the fourth quarter worth approximately $24,432,000. Walleye Capital LLC boosted its position in shares of Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after acquiring an additional 149,858 shares during the last quarter. Marnell Management LLC acquired a new stake in shares of Navios Maritime Partners in the fourth quarter worth approximately $5,027,000. Bank of America Corp DE boosted its position in shares of Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after acquiring an additional 72,754 shares during the last quarter. Finally, ING Groep NV boosted its position in shares of Navios Maritime Partners by 123.6% in the third quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after acquiring an additional 53,400 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Weiss Ratings cut shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group began coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Navios Maritime Partners presently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

About Navios Maritime Partners

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.