Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Buys 1,159 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock in a transaction dated Tuesday, June 23rd. The shares were acquired at an average price of $72.68 per share, with a total value of $84,236.12. Following the completion of the acquisition, the insider directly owned 4,752,698 shares of the company’s stock, valued at approximately $345,426,090.64. 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 the SEC website.

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 stock was purchased at an average price of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.94 per share, with a total value of $82,587.12.
• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The shares were acquired at an average cost 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, with a total value of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The shares were bought at an average price of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The shares were purchased 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 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 stock was acquired at an average price of $72.18 per share, with a total value of $83,295.72.

Navios Maritime Partners Price Performance

Shares of NYSE NMM opened at $69.72 on Friday. 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 stock has a market cap of $2.00 billion, a PE ratio of 5.87 and a beta of 1.01. The stock has a fifty day moving average of $72.01 and a 200-day moving average of $64.77.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.58. The business 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%. The business’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 company posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s payout ratio is currently 2.02%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NMM. Jefferies Financial Group began 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. Weiss Ratings downgraded 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 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 given a Hold rating to the company. Based on data from MarketBeat.com, Navios Maritime Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Navios Maritime Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock worth $672,000 after buying an additional 7,006 shares in the last quarter. Jump Financial LLC purchased a new position in Navios Maritime Partners in the 2nd quarter worth approximately $580,000. Cerity Partners LLC bought a new position in Navios Maritime Partners in the 2nd quarter valued at approximately $212,000. BNP Paribas Financial Markets lifted its position in Navios Maritime Partners by 25.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock valued at $290,000 after acquiring an additional 1,559 shares in the last quarter. Finally, Ion Asset Management Ltd. boosted its stake in Navios Maritime Partners by 2.2% during the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after purchasing an additional 17,285 shares during the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.

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.