Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys $83,608.56 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,113 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was acquired at an average cost of $75.12 per share, with a total value of $83,608.56. Following the transaction, the insider owned 4,763,242 shares of the company’s stock, valued at $357,814,739.04. This represents a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 stock was acquired at an average price of $73.74 per share, for a total transaction of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou purchased 1,108 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $76.14 per share, for a total transaction of $84,363.12.
• On Monday, July 6th, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.48 per share, with a total value of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou acquired 1,173 shares of Navios Maritime Partners stock. The stock was bought 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 stock was bought at an average cost of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The shares were bought at an average price 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 bought at an average price of $69.50 per share, with a total value of $83,330.50.
• On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The stock was bought at an average cost 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 purchased at an average price of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou purchased 1,148 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.94 per share, with a total value of $82,587.12.

Navios Maritime Partners Stock Performance

Shares of Navios Maritime Partners stock traded up $1.79 during trading on Friday, hitting $75.56. 141,551 shares of the stock were exchanged, compared to its average volume of 93,783. 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 company has a fifty day moving average price of $72.54 and a 200-day moving average price of $66.31. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 6.37 and a beta of 1.00. Navios Maritime Partners LP has a 1-year low of $38.77 and a 1-year high of $80.69.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly 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 business’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 earnings per share.

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 issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s payout ratio is currently 2.02%.

Wall Street Analyst Weigh In

NMM has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group started coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price target on the stock. One 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings 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 worth $32,000 after acquiring an additional 202 shares during the period. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners in the first quarter valued at approximately $63,000. State of Wyoming acquired a new position in Navios Maritime Partners during the fourth quarter valued at approximately $137,000. Corient Private Wealth LLC acquired a new position in Navios Maritime Partners during the fourth quarter valued at approximately $207,000. Finally, Mariner LLC bought a new stake in Navios Maritime Partners during the fourth quarter worth $208,000. 62.74% of the stock is owned by 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.