Angeliki Frangou Acquires 1,289 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,289 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was bought at an average cost of $64.87 per share, with a total value of $83,617.43. Following the completion of the acquisition, the insider directly owned 4,678,741 shares of the company’s stock, valued at $303,509,928.67. This trade represents a 0.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

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

Navios Maritime Partners Price Performance

NYSE:NMM opened at $68.31 on Wednesday. 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 company has a 50 day moving average price of $63.06 and a 200-day moving average price of $54.50. Navios Maritime Partners LP has a 1-year low of $28.37 and a 1-year high of $74.21. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of 7.11 and a beta of 1.31.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $365.55 million for the quarter, compared to the consensus estimate of $316.00 million. During the same period in the prior year, the firm posted $2.61 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. Equities research analysts forecast that Navios Maritime Partners LP will post 12.64 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, February 9th. Navios Maritime Partners’s payout ratio is presently 2.08%.

Institutional Trading of Navios Maritime Partners

Large investors have recently bought and sold shares of the business. Royal Bank of Canada raised its holdings in Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 202 shares during the last quarter. Allworth Financial LP acquired a new position in shares of Navios Maritime Partners during the 2nd quarter worth approximately $47,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Navios Maritime Partners in the second quarter valued at approximately $62,000. State of Wyoming acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at approximately $137,000. Finally, Corient Private Wealth LLC acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at approximately $207,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NMM shares. Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Navios Maritime Partners presently has a consensus rating of “Buy”.

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.