Angeliki Frangou Acquires 1,166 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,166 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was bought at an average cost of $71.77 per share, with a total value of $83,683.82. Following the completion of the transaction, the insider directly owned 4,738,902 shares in the company, valued at $340,110,996.54. The trade was a 0.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, June 8th, Angeliki Frangou bought 1,162 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.66 per share, with a total value of $83,627.22.
• On Wednesday, June 3rd, Angeliki Frangou bought 1,156 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.25 per share, with a total value of $83,665.50.
• On Monday, June 1st, Angeliki Frangou bought 1,203 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.36 per share, with a total value of $85,846.08.
• On Friday, May 29th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.57 per share, with a total value of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.65 per share, with a total value of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou bought 1,132 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou bought 1,118 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou purchased 1,116 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $74.30 per share, with a total value of $82,918.80.

Navios Maritime Partners Stock Up 1.5%

NMM stock opened at $71.95 on Wednesday. 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 company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 6.06 and a beta of 1.01. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69. The stock has a fifty day moving average of $71.27 and a 200-day moving average of $63.23.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.58. The company had revenue of $357.01 million during 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 firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.58 EPS.

Navios Maritime Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio is currently 2.02%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NMM. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note 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 began coverage on Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 target price for the company. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Trading of Navios Maritime Partners

Large investors have recently modified their holdings of the business. Royal Bank of Canada boosted 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 acquiring an additional 202 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Navios Maritime Partners during the 1st quarter valued at about $63,000. State of Wyoming bought a new stake in shares of Navios Maritime Partners during the 4th quarter valued at about $137,000. Corient Private Wealth LLC bought a new stake in shares of Navios Maritime Partners during the 4th quarter valued at about $207,000. Finally, Mariner LLC bought a new stake in shares of Navios Maritime Partners during the 4th quarter valued at about $208,000. Institutional investors own 62.74% of the company’s stock.

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.