Navios Maritime Partners (NYSE:NMM) Insider Buys 1,108 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,108 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was purchased at an average price of $76.14 per share, for a total transaction of $84,363.12. Following the acquisition, the insider directly owned 4,764,350 shares of the company’s stock, valued at $362,757,609. The trade was a 0.02% increase in their position. The purchase 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, July 9th, Angeliki Frangou acquired 1,099 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.74 per share, for a total transaction of $81,040.26.
• On Tuesday, July 7th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $75.12 per share, with a total value of $83,608.56.
• On Monday, July 6th, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.48 per share, for a total transaction of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou acquired 1,173 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.05 per share, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou bought 1,189 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou purchased 1,195 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.50 per share, with a total value of $83,330.50.
• On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $68.88 per share, for a total transaction of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.94 per share, with a total value of $82,587.12.

Navios Maritime Partners Stock Performance

Navios Maritime Partners stock traded down $2.14 during trading hours on Thursday, reaching $73.68. 116,829 shares of the company were exchanged, compared to its average volume of 94,287. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 6.21 and a beta of 1.00. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The stock has a 50-day moving average of $72.45 and a 200 day moving average of $66.25. Navios Maritime Partners LP has a 12 month low of $37.66 and a 12 month high of $80.69.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $317.80 million. During the same quarter last year, the firm posted $1.58 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. 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 price objective on the stock. Weiss Ratings downgraded 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 raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC grew its position in Navios Maritime Partners by 74.1% during the first quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after buying an additional 4,644 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Navios Maritime Partners by 57.6% in the 1st 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. Sei Investments Co. acquired a new stake in shares of Navios Maritime Partners during the 1st quarter worth approximately $1,889,000. Walleye Capital LLC grew its holdings in shares of Navios Maritime Partners by 45,274.3% during the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after purchasing an additional 149,858 shares in the last quarter. Finally, State of Wyoming increased its position in shares of Navios Maritime Partners by 77.8% during the first quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock valued at $313,000 after purchasing an additional 2,029 shares during the period. Institutional investors own 62.74% of the company’s stock.

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.