Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $81,040.26 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,099 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was purchased at an average price of $73.74 per share, with a total value of $81,040.26. Following the completion of the transaction, the insider owned 4,765,449 shares of the company’s stock, valued at approximately $351,404,209.26. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, July 8th, Angeliki Frangou acquired 1,108 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $76.14 per share, for a total transaction of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $75.12 per share, for a total transaction of $83,608.56.
• On Monday, July 6th, Angeliki Frangou bought 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 purchased 1,173 shares of Navios Maritime Partners stock. The stock was acquired at an average price 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 shares were bought at an average price of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The stock was bought 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 stock was bought at an average cost of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou bought 1,208 shares of Navios Maritime Partners stock. The shares were bought at an average price of $68.88 per share, with a total value of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou purchased 1,148 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.94 per share, for a total transaction of $82,587.12.

Navios Maritime Partners Price Performance

NMM stock traded up $1.79 during mid-day trading on Friday, hitting $75.56. The company had a trading volume of 141,551 shares, compared to its average volume of 93,783. The company has a 50-day moving average price of $72.54 and a 200 day moving average price of $66.31. Navios Maritime Partners LP has a 12-month low of $38.77 and a 12-month high of $80.69. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 6.37 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 (NYSE:NMM) last issued its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. The firm had revenue of $357.01 million during 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 business’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.06 per share. The ex-dividend date was Monday, May 11th. This represents a $0.24 annualized dividend and a yield of 0.3%. This is a boost from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio (DPR) is 2.02%.

Analysts Set New Price Targets

A number of research firms have recently commented on NMM. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

Several institutional investors have recently modified their holdings of the stock. ION Fund Management Ltd purchased a new stake in shares of Navios Maritime Partners in the fourth quarter valued at $24,432,000. Walleye Capital LLC boosted its stake in shares of Navios Maritime Partners by 45,274.3% during the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after purchasing an additional 149,858 shares during the period. Marnell Management LLC bought a new position in Navios Maritime Partners during the 4th quarter valued at about $5,027,000. Bank of America Corp DE grew its holdings in Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after purchasing an additional 72,754 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Navios Maritime Partners by 150.9% in the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock worth $4,589,000 after purchasing an additional 52,651 shares during the period. 62.74% of the stock is owned by 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.