Navios Maritime Partners (NYSE:NMM) Insider Buys $84,363.12 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,108 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was purchased at an average price of $76.14 per share, with a total value of $84,363.12. Following the transaction, the insider owned 4,764,350 shares of the company’s stock, valued at approximately $362,757,609. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, July 9th, Angeliki Frangou purchased 1,099 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.74 per share, with a total value of $81,040.26.
• 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 acquired 1,149 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.48 per share, for a total transaction of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou bought 1,173 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.05 per share, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou bought 1,189 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.59 per share, with a total value of $85,120.51.
• On Friday, June 26th, Angeliki Frangou purchased 1,195 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou purchased 1,208 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $68.88 per share, for a total transaction of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.94 per share, with a total value of $82,587.12.

Navios Maritime Partners Price Performance

Shares of NMM traded up $1.79 during trading hours on Friday, reaching $75.56. 141,551 shares of the company traded hands, compared to its average volume of 93,783. The stock has a fifty day simple moving average of $72.54 and a 200 day simple moving average of $66.31. Navios Maritime Partners LP has a fifty-two week low of $38.77 and a fifty-two week high of $80.69. The stock has a market capitalization of $2.17 billion, a PE 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 posted 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 business had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.06 dividend. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.02%.

Analyst Upgrades and Downgrades

NMM has been the topic of several recent analyst reports. Jefferies Financial Group began coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. 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. Finally, Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.00.

Institutional Trading of Navios Maritime Partners

A number of institutional investors and hedge funds have recently made changes to their positions in NMM. ION Fund Management Ltd purchased a new position in Navios Maritime Partners in the fourth quarter valued at approximately $24,432,000. Walleye Capital LLC lifted its position in Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after buying an additional 149,858 shares in the last quarter. Marnell Management LLC acquired a new position in Navios Maritime Partners during the fourth quarter valued at approximately $5,027,000. Bank of America Corp DE grew its stake in Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after buying an additional 72,754 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in Navios Maritime Partners by 150.9% during the fourth 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 period. 62.74% of the stock is currently owned by institutional investors and hedge funds.

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.