Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,187 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,187 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was acquired at an average cost of $71.39 per share, with a total value of $84,739.93. Following the transaction, the insider owned 4,751,539 shares of the company’s stock, valued at $339,212,369.21. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.34 per share, for a total transaction of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou bought 1,154 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.18 per share, for a total transaction of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou purchased 1,175 shares of Navios Maritime Partners stock. The shares were bought at an average price of $72.09 per share, with a total value of $84,705.75.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.02 per share, for a total transaction of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.66 per share, for a total transaction of $83,627.22.

Navios Maritime Partners Stock Up 2.0%

Navios Maritime Partners stock opened at $71.56 on Tuesday. Navios Maritime Partners LP has a twelve month low of $36.62 and a twelve month high of $80.69. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market cap of $2.05 billion, a PE ratio of 6.03 and a beta of 1.02. The firm’s 50 day moving average price is $71.91 and its two-hundred day moving average price is $64.44.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same quarter last year, the business posted $1.58 EPS. The company’s revenue for the quarter was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.06 dividend. 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. The ex-dividend date was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio is presently 2.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Finally, 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. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of Navios Maritime Partners by 50.9% during the 4th 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. bought a new position in shares of Navios Maritime Partners in the 1st quarter valued at approximately $63,000. State of Wyoming bought a new position in shares of Navios Maritime Partners in the 4th quarter valued at approximately $137,000. Corient Private Wealth LLC acquired a new stake in Navios Maritime Partners in the 4th quarter worth approximately $207,000. Finally, Mariner LLC acquired a new stake in Navios Maritime Partners in the 4th quarter worth approximately $208,000. 62.74% of the stock is currently owned by institutional investors.

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.