Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Buys 1,111 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,111 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $73.85 per share, with a total value of $82,047.35. Following the completion of the purchase, the insider owned 4,719,331 shares of the company’s stock, valued at $348,522,594.35. The trade was a 0.02% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, May 12th, Angeliki Frangou acquired 1,138 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.99 per share, for a total transaction of $83,062.62.
• On Friday, May 8th, Angeliki Frangou bought 1,164 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.62 per share, with a total value of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.49 per share, with a total value of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou purchased 1,086 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $74.77 per share, for a total transaction of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou purchased 1,171 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.55 per share, for a total transaction of $87,298.05.
• On Monday, May 4th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The shares were acquired 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 stock was acquired at an average price of $71.08 per share, for a total transaction of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou acquired 1,176 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.03 per share, for a total transaction of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.72 per share, with a total value of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou purchased 1,145 shares of Navios Maritime Partners stock. The shares were bought at an average price of $72.08 per share, for a total transaction of $82,531.60.

Navios Maritime Partners Stock Up 0.4%

NYSE NMM opened at $73.49 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $68.85 and a two-hundred day moving average of $60.02. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 7.65 and a beta of 1.06. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $77.90.

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

Navios Maritime Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date is Monday, May 11th. Navios Maritime Partners’s dividend payout ratio is 2.50%.

Wall Street Analysts Forecast Growth

NMM has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 target price on the stock. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Finally, Weiss Ratings upgraded Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $85.00.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NMM. Royal Bank of Canada boosted its holdings in Navios Maritime Partners by 50.9% in 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 in the last quarter. Valley Wealth Managers Inc. acquired a new stake in Navios Maritime Partners in the 1st quarter worth approximately $63,000. State of Wyoming purchased a new stake in Navios Maritime Partners during the 4th quarter worth approximately $137,000. Corient Private Wealth LLC acquired a new position in Navios Maritime Partners during the 4th quarter valued at approximately $207,000. Finally, Mariner LLC acquired a new position in Navios Maritime Partners during the 4th quarter valued at approximately $208,000. 62.74% of the stock is owned by institutional investors and hedge funds.

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.