Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases 1,187 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,187 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was purchased at an average price of $71.39 per share, with a total value of $84,739.93. Following the completion of the purchase, the insider directly owned 4,751,539 shares in the company, valued at $339,212,369.21. The trade was a 0.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The shares were 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 price of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou bought 1,119 shares of Navios Maritime Partners stock. The stock was 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 purchased 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.34 per share, for a total transaction of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou acquired 1,154 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.18 per share, with a total value of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou acquired 1,175 shares of Navios Maritime Partners stock. The stock was purchased 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 shares were acquired at an average price of $71.66 per share, for a total transaction of $83,627.22.

Navios Maritime Partners Trading Up 2.0%

NMM traded up $1.40 during trading on Monday, reaching $71.56. 74,616 shares of the company’s stock were exchanged, compared to its average volume of 109,682. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. Navios Maritime Partners LP has a one year low of $36.62 and a one year high of $80.69. The firm has a fifty day moving average price of $71.91 and a two-hundred day moving average price of $64.44. The stock has a market capitalization of $2.05 billion, a PE ratio of 6.03 and a beta of 1.02.

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

Navios Maritime Partners Increases Dividend

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

Hedge Funds Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently bought and sold shares of NMM. Royal Bank of Canada boosted its position in Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 202 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Navios Maritime Partners in the 1st quarter worth about $63,000. State of Wyoming acquired a new position in shares of Navios Maritime Partners in the 4th quarter valued at about $137,000. Corient Private Wealth LLC acquired a new position in shares of Navios Maritime Partners in the 4th quarter valued at about $207,000. Finally, Mariner LLC bought a new stake in shares of Navios Maritime Partners during the 4th quarter valued at about $208,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

Wall Street Analyst Weigh In

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

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.