Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases $81,836.10 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,151 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was acquired at an average cost of $71.10 per share, for a total transaction of $81,836.10. Following the completion of the transaction, the insider owned 4,750,352 shares in the company, valued at $337,750,027.20. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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

• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.39 per share, for a total transaction of $84,739.93.
• On Wednesday, June 17th, Angeliki Frangou acquired 1,126 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou bought 1,119 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou purchased 1,106 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.18 per share, for a total transaction of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou bought 1,175 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.09 per share, with a total value of $84,705.75.
• 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 acquired 1,167 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.66 per share, for a total transaction of $83,627.22.

Navios Maritime Partners Price Performance

Shares of NYSE NMM opened at $71.12 on Thursday. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of 5.99 and a beta of 1.01. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69. The firm’s 50-day simple moving average is $72.00 and its 200 day simple moving average is $64.67.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating the consensus estimate of $2.77 by $0.58. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company had revenue of $357.01 million during the quarter, compared to analysts’ expectations of $317.80 million. During the same quarter in the previous year, the company earned $1.58 earnings per share. Navios Maritime Partners’s revenue for the quarter 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 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 dividend on an annualized basis and a yield of 0.3%. Navios Maritime Partners’s payout ratio is 2.02%.

Analysts Set New Price Targets

A number of research firms have commented on NMM. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Finally, Jefferies Financial Group initiated coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective for the company. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Navios Maritime Partners has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Trading of Navios Maritime Partners

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada lifted its position in shares of Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after purchasing an additional 202 shares during the last quarter. Valley Wealth Managers Inc. purchased a new stake in shares of Navios Maritime Partners in the 1st quarter worth approximately $63,000. State of Wyoming bought a new stake in Navios Maritime Partners during the 4th quarter valued at $137,000. Corient Private Wealth LLC bought a new stake in Navios Maritime Partners during the fourth quarter valued at about $207,000. Finally, Mariner LLC bought a new stake in shares of Navios Maritime Partners in the 4th quarter valued at about $208,000. 62.74% of the stock is owned by hedge funds and other 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.