Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Purchases 1,175 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,175 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were acquired at an average price of $72.09 per share, with a total value of $84,705.75. Following the purchase, the insider owned 4,742,406 shares in the company, valued at $341,880,048.54. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, June 11th, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou acquired 1,154 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.18 per share, with a total value of $83,295.72.
• On Monday, June 8th, Angeliki Frangou acquired 1,162 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.02 per share, with a total value of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou bought 1,166 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou bought 1,156 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou purchased 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 purchased 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 purchased 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 purchased 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.

Navios Maritime Partners Trading Up 1.4%

NMM stock opened at $73.16 on Friday. The business has a fifty day moving average price of $71.53 and a 200 day moving average price of $63.51. 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 market capitalization of $2.10 billion, a price-to-earnings ratio of 6.16 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45.

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

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.06 per share. 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 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ion Asset Management Ltd. increased its stake in shares of Navios Maritime Partners by 2.2% in the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after buying an additional 17,285 shares during the period. ION Fund Management Ltd acquired a new stake in shares of Navios Maritime Partners in the 4th quarter valued at $24,432,000. Bank of America Corp DE increased its stake in shares of Navios Maritime Partners by 57.6% in the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after buying an additional 72,754 shares during the period. Walleye Capital LLC boosted its position in shares of Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after purchasing an additional 149,858 shares during the last quarter. Finally, ING Groep NV boosted its position in shares of Navios Maritime Partners by 51.7% in the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after purchasing an additional 49,900 shares during the last quarter. 62.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. 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. Finally, Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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.