Navios Maritime Partners (NYSE:NMM) Insider Buys $83,617.43 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,289 shares of the stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $64.87 per share, for a total transaction of $83,617.43. Following the completion of the transaction, the insider owned 4,678,741 shares in the company, valued at approximately $303,509,928.67. This represents a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Friday, March 20th, Angeliki Frangou purchased 1,247 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $66.71 per share, for a total transaction of $83,187.37.
• On Thursday, March 19th, Angeliki Frangou bought 1,235 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $67.00 per share, for a total transaction of $82,745.00.

Navios Maritime Partners Stock Up 1.5%

Navios Maritime Partners stock traded up $0.98 during trading hours on Monday, hitting $65.60. The company had a trading volume of 256,326 shares, compared to its average volume of 169,133. Navios Maritime Partners LP has a fifty-two week low of $28.37 and a fifty-two week high of $74.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. The firm has a market capitalization of $1.88 billion, a P/E ratio of 6.83 and a beta of 1.31. The firm’s fifty day moving average is $62.61 and its 200-day moving average is $54.24.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) 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 firm had revenue of $365.55 million during the quarter, compared to analysts’ expectations of $316.00 million. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.61 earnings per share. On average, research analysts forecast that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 9th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, February 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.08%.

Analyst Upgrades and Downgrades

NMM has been the subject of a number of recent analyst reports. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy”.

Institutional Trading of Navios Maritime Partners

A number of hedge funds have recently modified their holdings of the company. Ion Asset Management Ltd. increased its position in shares of Navios Maritime Partners by 2.2% during the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after purchasing an additional 17,285 shares during the period. ION Fund Management Ltd bought a new position in Navios Maritime Partners in the fourth quarter worth $24,432,000. Commonwealth Equity Services LLC boosted its stake in Navios Maritime Partners by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 158,749 shares of the shipping company’s stock worth $7,152,000 after buying an additional 2,045 shares in the last quarter. ING Groep NV boosted its stake in Navios Maritime Partners by 51.7% during the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after buying an additional 49,900 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Navios Maritime Partners by 28.8% in the 3rd quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock valued at $5,314,000 after buying an additional 26,340 shares during the period. Institutional investors own 62.74% of the company’s stock.

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.