Angeliki Frangou Buys 1,247 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,247 shares of Navios Maritime Partners stock in a transaction on Friday, March 20th. The stock was acquired at an average cost of $66.71 per share, for a total transaction of $83,187.37. Following the acquisition, the insider directly owned 4,677,452 shares of the company’s stock, valued at approximately $312,032,822.92. This represents a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, March 23rd, Angeliki Frangou acquired 1,289 shares of Navios Maritime Partners stock. The shares were bought at an average price of $64.87 per share, with a total value of $83,617.43.
• On Thursday, March 19th, Angeliki Frangou purchased 1,235 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $67.00 per share, with a total value of $82,745.00.

Navios Maritime Partners Stock Performance

NYSE NMM opened at $68.31 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. Navios Maritime Partners LP has a fifty-two week low of $28.37 and a fifty-two week high of $74.21. The business has a fifty day moving average of $63.06 and a 200-day moving average of $54.50. The stock 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 posted its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 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 business had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. During the same quarter last year, the company earned $2.61 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. As a group, analysts predict that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The company 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 payout ratio is 2.08%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One 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 Investors Weigh In On Navios Maritime Partners

A number of institutional investors have recently bought and sold shares of the stock. ION Fund Management Ltd acquired a new position in Navios Maritime Partners during the fourth quarter worth approximately $24,432,000. Marnell Management LLC acquired a new position in shares of Navios Maritime Partners in the 4th quarter valued at $5,027,000. ING Groep NV grew its stake in shares of Navios Maritime Partners by 123.6% during the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after buying an additional 53,400 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Navios Maritime Partners by 150.9% during the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock worth $4,589,000 after buying an additional 52,651 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Navios Maritime Partners during the 4th quarter worth $1,507,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

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.