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

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,148 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was purchased at an average price of $71.94 per share, with a total value of $82,587.12. Following the completion of the acquisition, the insider owned 4,753,846 shares of the company’s stock, valued at approximately $341,991,681.24. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.20 per share, with a total value of $82,134.00.
• On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were bought at an average price of $72.68 per share, with a total value of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The stock was bought 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 shares were purchased at an average price 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 purchased at an average price of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou bought 1,119 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.63 per share, with a total value 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, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.19 per share, with a total value of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou acquired 1,154 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.18 per share, for a total transaction of $83,295.72.

Navios Maritime Partners Stock Performance

NMM stock traded down $1.47 during midday trading on Thursday, hitting $69.72. 79,672 shares of the company traded hands, compared to its average volume of 106,420. Navios Maritime Partners LP has a twelve month low of $36.62 and a twelve month high of $80.69. The business has a 50 day simple moving average of $72.01 and a 200-day simple moving average of $64.77. 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 has a market capitalization of $2.00 billion, a price-to-earnings ratio of 5.87 and a beta of 1.01.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share 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 firm had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same quarter in the previous year, the business earned $1.58 EPS. The business’s revenue was up 17.4% on a year-over-year basis.

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 $0.06 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio is 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in NMM. Empowered Funds LLC grew its stake in Navios Maritime Partners by 74.1% in the first quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock valued at $736,000 after acquiring an additional 4,644 shares during the period. Bank of America Corp DE lifted its position in 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 in the last quarter. Sei Investments Co. acquired a new position in Navios Maritime Partners during the first quarter valued at approximately $1,889,000. Walleye Capital LLC boosted its holdings 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 buying an additional 149,858 shares during the last quarter. Finally, State of Wyoming lifted its stake in Navios Maritime Partners by 77.8% in the first quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock valued at $313,000 after acquiring an additional 2,029 shares during the last quarter. 62.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective on the stock. 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 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 has an average rating of “Moderate Buy” and a consensus price target 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.