Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,173 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,173 shares of the stock in a transaction dated Thursday, July 2nd. The stock was bought at an average cost of $73.05 per share, with a total value of $85,687.65. Following the completion of the purchase, the insider owned 4,760,980 shares of the company’s stock, valued at approximately $347,789,589. The trade was a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, July 6th, Angeliki Frangou bought 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.48 per share, for a total transaction of $85,577.52.
• On Wednesday, July 1st, Angeliki Frangou purchased 1,189 shares of Navios Maritime Partners stock. The shares were bought 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 bought at an average cost of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The shares were bought 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 shares were purchased at an average cost of $68.88 per share, for a total transaction of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The stock was purchased at an average price 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 shares were purchased at an average cost 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 shares were purchased at an average price of $72.68 per share, for a total transaction of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.39 per share, for a total transaction of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.10 per share, with a total value of $81,836.10.

Navios Maritime Partners Trading Up 3.6%

NYSE:NMM opened at $75.06 on Tuesday. 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 firm has a market cap of $2.15 billion, a price-to-earnings ratio of 6.32 and a beta of 1.00. Navios Maritime Partners LP has a 52 week low of $37.42 and a 52 week high of $80.69. The firm has a 50-day moving average price of $72.26 and a two-hundred day moving average price of $65.72.

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

Navios Maritime Partners Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on NMM shares. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. Wall Street Zen upgraded 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 research note on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

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. purchased a new position in shares of Navios Maritime Partners during the first quarter worth approximately $63,000. State of Wyoming bought a new stake in shares of Navios Maritime Partners in the 4th quarter worth approximately $137,000. Corient Private Wealth LLC bought a new position in shares of Navios Maritime Partners during the 4th quarter valued at $207,000. Finally, Mariner LLC purchased a new position in Navios Maritime Partners in the 4th quarter worth $208,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

About Navios Maritime Partners

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.