Navios Maritime Partners (NYSE:NMM) Insider Buys $83,205.72 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,196 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of $69.57 per share, for a total transaction of $83,205.72. Following the completion of the transaction, the insider directly owned 4,734,219 shares in the company, valued at approximately $329,359,615.83. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Thursday, May 28th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.65 per share, for a total transaction of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou acquired 1,132 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.30 per share, with a total value of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou acquired 1,107 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $77.81 per share, with a total value of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $75.48 per share, with a total value of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou acquired 1,160 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.24 per share, with a total value of $84,958.40.
• On Monday, May 18th, Angeliki Frangou acquired 1,163 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.85 per share, with a total value of $83,561.55.
• On Friday, May 15th, Angeliki Frangou acquired 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $70.93 per share, with a total value of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.61 per share, with a total value of $83,712.09.

Navios Maritime Partners Price Performance

NYSE:NMM opened at $69.23 on Monday. Navios Maritime Partners LP has a 12 month low of $36.62 and a 12 month high of $80.69. The stock has a 50 day moving average of $70.51 and a two-hundred day moving average of $62.28. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.98 billion, a P/E ratio of 5.83 and a beta of 1.02.

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

Navios Maritime Partners Increases Dividend

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ion Asset Management Ltd. boosted its holdings in shares of Navios Maritime Partners by 2.2% during the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after purchasing an additional 17,285 shares during the last quarter. ION Fund Management Ltd acquired a new position in shares of Navios Maritime Partners during the 4th quarter worth approximately $24,432,000. Bank of America Corp DE boosted its holdings in shares of 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 worth $13,438,000 after purchasing an additional 72,754 shares during the last quarter. Walleye Capital LLC lifted its holdings in Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after acquiring an additional 149,858 shares during the last quarter. Finally, ING Groep NV lifted its holdings in Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after acquiring an additional 49,900 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Jefferies Financial Group began coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a “buy” rating and a $85.00 price objective for the company. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Finally, Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Navios Maritime Partners has an average rating of “Moderate Buy” and an average price target of $85.00.

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.