Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires 1,189 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,189 shares of the stock in a transaction on Wednesday, July 1st. The stock was purchased at an average price of $71.59 per share, for a total transaction of $85,120.51. Following the completion of the purchase, the insider owned 4,759,807 shares of the company’s stock, valued at approximately $340,754,583.13. This trade represents a 0.02% increase in their ownership of the stock. The transaction 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 Monday, July 6th, Angeliki Frangou acquired 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 bought 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 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 shares were acquired at an average price of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The stock was acquired 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 acquired at an average cost of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.94 per share, for a total transaction of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.68 per share, with a total value of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.39 per share, with a total value of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.10 per share, for a total transaction of $81,836.10.

Navios Maritime Partners Stock Performance

Shares of NMM opened at $75.06 on Tuesday. Navios Maritime Partners LP has a 52-week low of $37.42 and a 52-week high of $80.69. The stock’s 50-day simple moving average is $72.26 and its 200 day simple moving average is $65.72. 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 stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 6.32 and a beta of 1.00.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results 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. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same quarter in the previous year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors 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. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio is presently 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its position 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 valued at $32,000 after purchasing an additional 202 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in Navios Maritime Partners in the 1st quarter worth approximately $63,000. State of Wyoming purchased a new stake in Navios Maritime Partners in the fourth quarter worth approximately $137,000. Corient Private Wealth LLC purchased a new stake in Navios Maritime Partners in the fourth quarter worth approximately $207,000. Finally, Mariner LLC bought a new position in Navios Maritime Partners during the fourth quarter valued at approximately $208,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on NMM. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. Finally, Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus 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.