Navios Maritime Partners (NYSE:NMM) Insider Purchases $83,207.04 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,208 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were purchased at an average cost of $68.88 per share, for a total transaction of $83,207.04. Following the completion of the purchase, the insider directly owned 4,757,419 shares of the company’s stock, valued at approximately $327,691,020.72. This represents a 0.03% 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 Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $69.50 per share, with a total value of $83,330.50.
• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.94 per share, with a total value of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.68 per share, for a total transaction of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou bought 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 Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.10 per share, with a total value of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.63 per share, with a total value of $82,391.97.
• 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, for a total transaction of $82,651.38.
• On Friday, June 12th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.19 per share, for a total transaction of $84,205.65.

Navios Maritime Partners Trading Up 1.1%

Shares of Navios Maritime Partners stock traded up $0.76 during trading on Tuesday, hitting $70.26. The company’s stock had a trading volume of 95,554 shares, compared to its average volume of 101,852. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 5.92 and a beta of 1.01. Navios Maritime Partners LP has a 52 week low of $36.88 and a 52 week high of $80.69. The stock has a 50-day moving average price of $72.00 and a two-hundred day moving average price of $65.11. 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 announced its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.Navios Maritime Partners’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS.

Navios Maritime Partners Increases Dividend

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

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings 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 valued at $32,000 after acquiring an additional 202 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Navios Maritime Partners during the 1st quarter valued at $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 acquired a new position in Navios Maritime Partners during the fourth quarter worth $207,000. Finally, Mariner LLC acquired a new position in Navios Maritime Partners during the fourth quarter worth $208,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on NMM shares. Wall Street Zen upgraded 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 shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 target price for the company. Finally, Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.