Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,119 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,119 shares of the business’s stock in a transaction on Tuesday, June 16th. The shares were acquired at an average cost of $73.63 per share, with a total value of $82,391.97. Following the acquisition, the insider directly owned 4,748,075 shares in the company, valued at approximately $349,600,762.25. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.73 per share, for a total transaction of $82,651.38.
• On Friday, June 12th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou acquired 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 shares were purchased at an average price of $72.18 per share, for a total transaction of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou acquired 1,175 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.09 per share, for a total transaction of $84,705.75.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.02 per share, for a total transaction of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.66 per share, for a total transaction of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou acquired 1,166 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.77 per share, for a total transaction of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.14 per share, for a total transaction of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou acquired 1,158 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.25 per share, for a total transaction of $83,665.50.

Navios Maritime Partners Stock Performance

NMM stock traded down $0.55 during trading hours on Tuesday, hitting $73.87. 86,495 shares of the stock were exchanged, compared to its average volume of 145,979. 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 $2.12 billion, a P/E ratio of 6.22 and a beta of 1.01. The company has a 50-day simple moving average of $71.87 and a two-hundred day simple moving average of $63.96. Navios Maritime Partners LP has a 12 month low of $36.62 and a 12 month high of $80.69.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.58. The firm 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%.The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 EPS.

Navios Maritime Partners Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Ion Asset Management Ltd. increased its position in shares of Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after purchasing an additional 17,285 shares during the period. ION Fund Management Ltd bought a new position in shares of Navios Maritime Partners in the fourth quarter worth $24,432,000. Bank of America Corp DE increased 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 purchasing an additional 72,754 shares during the period. Walleye Capital LLC increased 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 purchasing an additional 149,858 shares during the period. Finally, ING Groep NV increased its position in shares of Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after purchasing an additional 49,900 shares during the period. Institutional investors own 62.74% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective on the stock. Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Finally, Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Navios Maritime Partners currently 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.