Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys 1,175 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,175 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were bought at an average price of $72.09 per share, for a total transaction of $84,705.75. Following the completion of the transaction, the insider owned 4,742,406 shares of the company’s stock, valued at approximately $341,880,048.54. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, June 11th, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The stock was bought 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 bought at an average price of $72.18 per share, for a total transaction of $83,295.72.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The stock was bought 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 stock was bought 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 stock was bought 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 stock was bought 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 stock was bought at an average price of $72.25 per share, for a total transaction of $83,665.50.
• On Monday, June 1st, Angeliki Frangou acquired 1,203 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.36 per share, for a total transaction of $85,846.08.
• On Friday, May 29th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The stock was bought at an average price of $69.57 per share, for a total transaction of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average price of $70.65 per share, for a total transaction of $82,660.50.

Navios Maritime Partners Price Performance

Shares of NMM stock traded up $1.04 during trading on Thursday, hitting $73.16. The company had a trading volume of 125,905 shares, compared to its average volume of 134,769. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The stock’s 50-day moving average is $71.53 and its two-hundred day moving average is $63.51. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 6.16 and a beta of 1.01. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week 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 company had revenue of $357.01 million for the quarter, compared to analysts’ expectations of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. Navios Maritime Partners’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders 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 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%.

Institutional Trading of Navios Maritime Partners

Several hedge funds and other institutional investors have recently bought and sold shares of NMM. 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 worth $30,821,000 after acquiring an additional 17,285 shares during the period. ION Fund Management Ltd purchased a new stake in Navios Maritime Partners in the fourth quarter worth $24,432,000. Bank of America Corp DE lifted its stake in 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 acquiring an additional 72,754 shares during the period. Walleye Capital LLC lifted its stake in 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 acquiring an additional 149,858 shares during the period. Finally, ING Groep NV lifted its stake in 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 acquiring an additional 49,900 shares during the period. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Wall Street Analysts Forecast Growth

NMM has been the subject of several research reports. Weiss Ratings lowered Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 target price for the company. 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, Navios Maritime Partners currently has a consensus rating of “Moderate Buy” and a consensus price target 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.