Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,099 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,099 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was purchased at an average cost of $73.74 per share, with a total value of $81,040.26. Following the completion of the purchase, the insider directly owned 4,765,449 shares in the company, valued at $351,404,209.26. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Wednesday, July 8th, Angeliki Frangou bought 1,108 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $76.14 per share, for a total transaction of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $75.12 per share, for a total transaction of $83,608.56.
• On Monday, July 6th, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.48 per share, with a total value of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou purchased 1,173 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.05 per share, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou acquired 1,189 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou acquired 1,195 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou bought 1,208 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $68.88 per share, with a total value of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou bought 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 Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.94 per share, with a total value of $82,587.12.

Navios Maritime Partners Stock Down 2.8%

Shares of NYSE NMM opened at $73.68 on Friday. Navios Maritime Partners LP has a 12-month low of $37.66 and a 12-month high of $80.69. The company has a market capitalization of $2.11 billion, a PE ratio of 6.21 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The firm’s 50-day moving average is $72.45 and its two-hundred day moving average is $66.25.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data 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 business had revenue of $357.01 million during the quarter, compared to analysts’ expectations of $317.80 million. During the same period last year, the company posted $1.58 EPS. The company’s revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

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

Hedge Funds Weigh In On Navios Maritime Partners

Several institutional investors and hedge funds have recently modified their holdings of NMM. Royal Bank of Canada boosted its position in Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after acquiring an additional 202 shares during the last quarter. Raymond James Financial Inc. grew its stake in Navios Maritime Partners by 5.6% in the 3rd quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after acquiring an additional 380 shares during the period. Moors & Cabot Inc. raised its holdings in Navios Maritime Partners by 0.8% in the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock valued at $4,175,000 after acquiring an additional 750 shares during the last quarter. Valley Wealth Managers Inc. acquired a new position in Navios Maritime Partners in the 1st quarter valued at $63,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Navios Maritime Partners by 25.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after purchasing an additional 1,559 shares during the period. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Analysts Set New Price Targets

NMM has been the subject of several recent research reports. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Jefferies Financial Group began coverage on Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective on the stock. 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 investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.