Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Purchases 1,105 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,105 shares of the business’s stock in a transaction that occurred on Tuesday, July 14th. The stock was purchased at an average price of $75.58 per share, for a total transaction of $83,515.90. Following the acquisition, the insider directly owned 4,768,783 shares in the company, valued at approximately $360,424,619.14. This trade represents a 0.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, July 13th, Angeliki Frangou bought 1,100 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $75.41 per share, for a total transaction of $82,951.00.
• On Friday, July 10th, Angeliki Frangou bought 1,129 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $75.36 per share, with a total value of $85,081.44.
• On Thursday, July 9th, Angeliki Frangou bought 1,099 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.74 per share, with a total value of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou purchased 1,108 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $76.14 per share, for a total transaction of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The shares were acquired 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 shares were acquired at an average cost 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 acquired 1,189 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.59 per share, with a total value of $85,120.51.
• On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $69.50 per share, for a total transaction of $83,330.50.

Navios Maritime Partners Stock Performance

Shares of NMM stock opened at $75.02 on Wednesday. The firm has a 50 day moving average of $72.58 and a two-hundred day moving average of $66.75. The stock has a market capitalization of $2.15 billion, a PE ratio of 6.32 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. Navios Maritime Partners LP has a 52 week low of $38.77 and a 52 week high of $80.69.

Navios Maritime Partners (NYSE:NMM) last posted 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. The business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

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

Analysts Set New Price Targets

NMM has been the subject of a number of analyst reports. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMM. JPMorgan Chase & Co. boosted its holdings in shares of Navios Maritime Partners by 95.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock valued at $1,572,000 after buying an additional 17,040 shares in the last quarter. Marnell Management LLC purchased a new stake in Navios Maritime Partners in the fourth quarter valued at $5,027,000. ING Groep NV boosted its stake in Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after acquiring an additional 49,900 shares in the last quarter. SG Americas Securities LLC acquired a new position in Navios Maritime Partners in the first quarter valued at $622,000. Finally, Bank of America Corp DE boosted its stake in Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after acquiring an additional 72,754 shares in the last quarter. 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.