Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $83,712.09 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $71.61 per share, with a total value of $83,712.09. Following the completion of the acquisition, the insider owned 4,722,772 shares in the company, valued at approximately $338,197,702.92. The trade was a 0.02% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, May 15th, Angeliki Frangou purchased 1,172 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.93 per share, with a total value of $83,129.96.
• On Wednesday, May 13th, Angeliki Frangou purchased 1,134 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.69 per share, with a total value of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou purchased 1,138 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.99 per share, with a total value of $83,062.62.
• On Monday, May 11th, Angeliki Frangou purchased 1,111 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.85 per share, with a total value of $82,047.35.
• On Friday, May 8th, Angeliki Frangou acquired 1,164 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.62 per share, for a total transaction of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $72.49 per share, for a total transaction of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou acquired 1,086 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.77 per share, for a total transaction of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou purchased 1,171 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.55 per share, for a total transaction of $87,298.05.
• On Monday, May 4th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.74 per share, for a total transaction of $83,864.06.
• On Friday, May 1st, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.08 per share, for a total transaction of $82,097.40.

Navios Maritime Partners Price Performance

Shares of NMM stock opened at $71.37 on Monday. The stock’s fifty day moving average is $68.82 and its 200-day moving average is $60.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market capitalization of $2.05 billion, a PE ratio of 7.43 and a beta of 1.06. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $77.90.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, topping the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The company had revenue of $365.55 million for the quarter, compared to analysts’ expectations of $316.00 million. During the same quarter in the prior year, the business earned $2.61 earnings per share. The business’s revenue for the quarter was up 10.0% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s payout ratio is currently 2.50%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Jefferies Financial Group began coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target for the company. Finally, Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ion Asset Management Ltd. grew its stake in Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after purchasing an additional 17,285 shares in the last quarter. ION Fund Management Ltd bought a new position in Navios Maritime Partners in the fourth quarter valued at approximately $24,432,000. Walleye Capital LLC grew its stake 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 purchasing an additional 149,858 shares in the last quarter. ING Groep NV grew its stake 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 purchasing an additional 49,900 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Navios Maritime Partners by 28.8% in the third quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock valued at $5,314,000 after purchasing an additional 26,340 shares in the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

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.