Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $83,129.96 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,172 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $70.93 per share, with a total value of $83,129.96. Following the completion of the transaction, the insider directly owned 4,723,944 shares of the company’s stock, valued at approximately $335,069,347.92. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, May 14th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.61 per share, with a total value of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou purchased 1,134 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.69 per share, with a total value of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou purchased 1,138 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.99 per share, with a total value of $83,062.62.
• On Monday, May 11th, Angeliki Frangou purchased 1,111 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.85 per share, with a total value of $82,047.35.
• On Friday, May 8th, Angeliki Frangou acquired 1,164 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.62 per share, with a total value of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.49 per share, with a total value of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou acquired 1,086 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.77 per share, with a total value of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou acquired 1,171 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.55 per share, with a total value of $87,298.05.
• On Monday, May 4th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.74 per share, with a total value of $83,864.06.
• On Friday, May 1st, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.08 per share, for a total transaction of $82,097.40.

Navios Maritime Partners Trading Down 0.4%

NYSE NMM opened at $71.37 on Monday. Navios Maritime Partners LP has a 1-year low of $36.62 and a 1-year high of $77.90. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The stock has a 50-day moving average of $68.82 and a 200-day moving average of $60.55. The firm has a market cap of $2.05 billion, a PE ratio of 7.43 and a beta of 1.06.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The company had revenue of $365.55 million during the quarter, compared to analyst estimates of $316.00 million. During the same quarter in the previous year, the company posted $2.61 EPS. Navios Maritime Partners’s revenue for the quarter was up 10.0% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The company 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 positive change 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 dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.50%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NMM. Weiss Ratings upgraded Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Jefferies Financial Group began coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $85.00.

Institutional Trading of Navios Maritime Partners

Hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted 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 purchasing an additional 202 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners in the 1st quarter valued at approximately $63,000. State of Wyoming bought a new position in Navios Maritime Partners in the 4th quarter valued at approximately $137,000. Corient Private Wealth LLC bought a new position in Navios Maritime Partners in the 4th quarter valued at approximately $207,000. Finally, Mariner LLC bought a new position in shares of Navios Maritime Partners during the 4th quarter valued at $208,000. 62.74% of the stock is owned by institutional investors.

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.