Navios Maritime Partners (NYSE:NMM) Insider Purchases $83,187.37 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,247 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were acquired at an average cost of $66.71 per share, with a total value of $83,187.37. Following the completion of the transaction, the insider owned 4,677,452 shares in the company, valued at approximately $312,032,822.92. The trade was a 0.03% 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 link.

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

• On Monday, March 23rd, Angeliki Frangou bought 1,289 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $64.87 per share, for a total transaction of $83,617.43.
• On Thursday, March 19th, Angeliki Frangou purchased 1,235 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $67.00 per share, for a total transaction of $82,745.00.

Navios Maritime Partners Stock Performance

NMM traded up $0.98 during trading on Monday, hitting $65.60. 256,326 shares of the company traded hands, compared to its average volume of 169,133. The firm has a market cap of $1.88 billion, a P/E ratio of 6.83 and a beta of 1.31. The stock’s fifty day moving average is $62.61 and its 200 day moving average is $54.24. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. Navios Maritime Partners LP has a one year low of $28.37 and a one year high of $74.21.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, topping the consensus estimate of $2.41 by $0.99. The business had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.61 earnings per share. As a group, equities analysts predict that Navios Maritime Partners LP will post 12.64 EPS for the current fiscal year.

Navios Maritime Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, February 9th. Navios Maritime Partners’s payout ratio is 2.08%.

Hedge Funds Weigh In On Navios Maritime Partners

Several large investors have recently modified their holdings of NMM. Allworth Financial LP bought a new stake in shares of Navios Maritime Partners in the second quarter valued at approximately $47,000. TD Waterhouse Canada Inc. bought a new position in Navios Maritime Partners in the 2nd quarter worth approximately $62,000. JPMorgan Chase & Co. grew its stake in Navios Maritime Partners by 64.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock valued at $672,000 after buying an additional 7,006 shares in the last quarter. Aristides Capital LLC purchased a new position in Navios Maritime Partners in the 2nd quarter valued at approximately $228,000. Finally, Jump Financial LLC bought a new stake in Navios Maritime Partners during the 2nd quarter valued at $580,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Analysts Set New Price Targets

NMM has been the topic of several research analyst reports. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings upgraded Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Navios Maritime Partners has a consensus rating of “Buy”.

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.