Navios Maritime Partners (NYSE:NMM) Insider Buys $84,236.12 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,159 shares of the company’s stock in a transaction on Tuesday, June 23rd. The stock was purchased at an average cost of $72.68 per share, with a total value of $84,236.12. Following the completion of the transaction, the insider owned 4,752,698 shares in the company, valued at $345,426,090.64. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, June 25th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.94 per share, with a total value of $82,587.12.
• On Monday, June 22nd, Angeliki Frangou acquired 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 bought 1,151 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou bought 1,126 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.19 per share, with a total value of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The stock was bought at an average cost 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 bought at an average price of $72.18 per share, with a total value of $83,295.72.

Navios Maritime Partners Stock Down 0.9%

NMM stock opened at $69.07 on Friday. The company’s 50 day moving average price is $72.00 and its 200 day moving average price is $64.80. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 5.82 and a beta of 1.01.

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

Navios Maritime Partners Increases Dividend

The firm 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. This represents a $0.24 annualized dividend and a yield of 0.3%. This is a boost from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio is currently 2.02%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its stake in Navios Maritime Partners by 95.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock worth $1,572,000 after purchasing an additional 17,040 shares during the period. Arbiter Partners Capital Management LLC purchased a new stake in shares of Navios Maritime Partners in the third quarter valued at about $1,117,000. Marnell Management LLC purchased a new position in shares of Navios Maritime Partners during the fourth quarter worth about $5,027,000. ING Groep NV increased its position in Navios Maritime Partners by 51.7% in 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. Finally, Jump Financial LLC increased its position in Navios Maritime Partners by 33.2% in the 4th quarter. Jump Financial LLC now owns 36,870 shares of the shipping company’s stock valued at $1,933,000 after acquiring an additional 9,186 shares during the period. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

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.