Navios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock in a transaction that occurred on Monday, July 6th. The shares were bought at an average cost of $74.48 per share, for a total transaction of $85,577.52. Following the transaction, the insider directly owned 4,762,129 shares of the company’s stock, valued at $354,683,367.92. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Angeliki Frangou also recently made the following trade(s):
- On Thursday, July 2nd, Angeliki Frangou bought 1,173 shares of Navios Maritime Partners stock. The shares were bought at an average price of $73.05 per share, with a total value of $85,687.65.
- On Wednesday, July 1st, Angeliki Frangou bought 1,189 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.59 per share, for a total transaction of $85,120.51.
- On Friday, June 26th, Angeliki Frangou purchased 1,195 shares of Navios Maritime Partners stock. The stock was bought at an average price of $69.22 per share, for a total transaction of $82,717.90.
- On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The stock was bought at an average price of $69.50 per share, for a total transaction of $83,330.50.
- On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $68.88 per share, with a total value of $83,207.04.
- On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $70.20 per share, for a total transaction of $82,134.00.
- On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.94 per share, with a total value of $82,587.12.
- On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.68 per share, for a total transaction of $84,236.12.
- On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.39 per share, with a total value of $84,739.93.
- On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.10 per share, for a total transaction of $81,836.10.
Navios Maritime Partners Trading Up 0.7%
Shares of Navios Maritime Partners stock opened at $75.70 on Thursday. Navios Maritime Partners LP has a 1 year low of $37.42 and a 1 year high of $80.69. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.17 billion, a PE ratio of 6.38 and a beta of 1.00. The firm’s 50 day moving average is $72.41 and its 200 day moving average is $66.08.
Navios Maritime Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.06 dividend. This is an increase 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 Upgrades and Downgrades
A number of analysts have weighed in on the stock. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 target price for the company. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Finally, Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.
Read Our Latest Report on Navios Maritime Partners
Hedge Funds Weigh In On Navios Maritime Partners
Several hedge funds and other institutional investors have recently added to or reduced their stakes in NMM. Royal Bank of Canada grew its holdings in shares of Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after purchasing an additional 202 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners during the first quarter valued at approximately $63,000. State of Wyoming bought a new position in Navios Maritime Partners during the fourth quarter valued at approximately $137,000. Corient Private Wealth LLC purchased a new position in shares of Navios Maritime Partners during the fourth quarter worth approximately $207,000. Finally, Mariner LLC purchased a new position in shares of Navios Maritime Partners during the fourth quarter worth approximately $208,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.
More Navios Maritime Partners News
Here are the key news stories impacting Navios Maritime Partners this week:
- Positive Sentiment: CEO Angeliki Frangou has been buying shares repeatedly over the past several sessions, signaling confidence in Navios Maritime Partners’ prospects and supporting investor sentiment. Article Title
- Positive Sentiment: The company recently reported strong quarterly results, with EPS and revenue both beating analyst expectations, which continues to underpin the stock’s higher trading range.
- Positive Sentiment: Navios Maritime Partners also raised its quarterly dividend, reinforcing the appeal of the stock for income-focused investors.
- Neutral Sentiment: Analyst sentiment remains mixed but constructive, with an overall Moderate Buy rating and an average price target above the current trading level.
- Negative Sentiment: One research firm recently downgraded the stock to Hold, which could temper enthusiasm despite the insider buying and solid fundamentals.
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.
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