Navios Maritime Partners (NYSE:NMM) Insider Acquires $82,194.52 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,132 shares of the business’s stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $72.61 per share, for a total transaction of $82,194.52. Following the purchase, the insider owned 4,731,853 shares of the company’s stock, valued at approximately $343,579,846.33. This represents a 0.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, May 29th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.57 per share, for a total transaction of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $70.65 per share, for a total transaction of $82,660.50.
• On Tuesday, May 26th, Angeliki Frangou purchased 1,118 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou purchased 1,116 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou purchased 1,107 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou purchased 1,113 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou purchased 1,160 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.24 per share, for a total transaction of $84,958.40.
• On Monday, May 18th, Angeliki Frangou acquired 1,163 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.85 per share, for a total transaction of $83,561.55.
• On Friday, May 15th, Angeliki Frangou acquired 1,172 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.61 per share, for a total transaction of $83,712.09.

Navios Maritime Partners Price Performance

NYSE NMM opened at $69.23 on Monday. 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 LP has a 12-month low of $36.62 and a 12-month high of $80.69. The company has a market capitalization of $1.98 billion, a PE ratio of 5.83 and a beta of 1.02. The firm’s 50 day moving average is $70.51 and its 200-day moving average is $62.28.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $317.80 million. During the same period last year, the company earned $1.58 earnings per share. The firm’s revenue was up 17.4% compared to the same quarter last year.

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 issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. This is a boost 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 2.02%.

Wall Street Analyst Weigh In

NMM has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Finally, Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Navios Maritime Partners by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock worth $1,572,000 after buying an additional 17,040 shares during the last quarter. Arbiter Partners Capital Management LLC acquired a new position in Navios Maritime Partners during the third quarter worth $1,117,000. ING Groep NV increased its holdings in Navios Maritime Partners by 123.6% during the third quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after buying an additional 53,400 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Navios Maritime Partners by 0.8% during the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after buying an additional 750 shares during the last quarter. Finally, Mraz Amerine & Associates Inc. increased its holdings in Navios Maritime Partners by 6.4% during the third quarter. Mraz Amerine & Associates Inc. now owns 43,291 shares of the shipping company’s stock worth $1,950,000 after buying an additional 2,621 shares during the last quarter. 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.