Angeliki Frangou Acquires 1,148 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,148 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was acquired at an average price of $71.94 per share, with a total value of $82,587.12. Following the acquisition, the insider owned 4,753,846 shares in the company, valued at $341,991,681.24. 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 Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.20 per share, for a total transaction of $82,134.00.
• On Tuesday, June 23rd, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.68 per share, for a total transaction of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.39 per share, with a total value of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.10 per share, with a total value of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The stock was acquired at an average cost 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 stock was bought at an average price of $74.19 per share, with a total value of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou bought 1,154 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.18 per share, with a total value of $83,295.72.

Navios Maritime Partners Stock Down 0.9%

Shares of NMM opened at $69.07 on Friday. The stock’s 50-day moving average price is $72.00 and its two-hundred day moving average price is $64.80. Navios Maritime Partners LP has a 12 month low of $36.62 and a 12 month high of $80.69. The company has a market capitalization of $1.98 billion, a PE ratio of 5.82 and a beta of 1.01. 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 (NYSE:NMM) last issued its quarterly earnings results 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 company had revenue of $357.01 million during 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 business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The business also recently announced 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 boost from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds have recently added to or reduced their stakes in the business. Ion Asset Management Ltd. lifted its stake in 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 valued at $30,821,000 after buying an additional 17,285 shares during the period. ION Fund Management Ltd acquired a new stake in shares of Navios Maritime Partners during the 4th quarter worth approximately $24,432,000. Bank of America Corp DE grew its position in shares of Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after buying an additional 72,754 shares during the period. Walleye Capital LLC increased its stake in shares of Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after acquiring an additional 149,858 shares in the last quarter. Finally, ING Groep NV lifted its position in shares of Navios Maritime Partners by 51.7% during the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after acquiring an additional 49,900 shares during the period. 62.74% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on NMM. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a 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 note on Saturday, March 21st. Finally, Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.