Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $85,081.44 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,129 shares of the stock in a transaction dated Friday, July 10th. The stock was bought at an average cost of $75.36 per share, with a total value of $85,081.44. Following the purchase, the insider owned 4,766,578 shares in the company, valued at $359,209,318.08. The trade was a 0.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, July 14th, Angeliki Frangou purchased 1,105 shares of Navios Maritime Partners stock. The shares were bought at an average price of $75.58 per share, for a total transaction of $83,515.90.
• On Monday, July 13th, Angeliki Frangou purchased 1,100 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $75.41 per share, for a total transaction of $82,951.00.
• On Thursday, July 9th, Angeliki Frangou acquired 1,099 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.74 per share, with a total value of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou acquired 1,108 shares of Navios Maritime Partners stock. The stock was bought at an average price of $76.14 per share, with a total value of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $75.12 per share, with a total value of $83,608.56.
• On Monday, July 6th, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.48 per share, with a total value of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou bought 1,173 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.05 per share, for a total transaction of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou bought 1,189 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $69.50 per share, with a total value of $83,330.50.

Navios Maritime Partners Trading Down 0.7%

Shares of NMM opened at $74.49 on Friday. The stock has a market capitalization of $2.14 billion, a P/E ratio of 6.28 and a beta of 1.00. 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 firm has a fifty day simple moving average of $72.66 and a two-hundred day simple moving average of $67.08. Navios Maritime Partners LP has a twelve month low of $39.11 and a twelve month high of $80.69.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.58. The business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 EPS.

Navios Maritime Partners Increases Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on NMM. Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Jefferies Financial Group began coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a “buy” rating and a $85.00 target price 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 research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Navios Maritime Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NMM. Royal Bank of Canada raised its position in shares of Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after acquiring an additional 202 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Navios Maritime Partners during the first quarter valued at approximately $63,000. State of Wyoming bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $137,000. Corient Private Wealth LLC purchased a new stake in Navios Maritime Partners in the fourth quarter worth $207,000. Finally, Mariner LLC bought a new position in Navios Maritime Partners in the fourth quarter worth $208,000. Hedge funds and other 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.