Angeliki Frangou Buys 1,208 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,208 shares of the company’s stock in a transaction on Monday, June 29th. The stock was acquired at an average cost of $68.88 per share, for a total transaction of $83,207.04. Following the completion of the acquisition, the insider owned 4,757,419 shares of the company’s stock, valued at $327,691,020.72. This trade represents a 0.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.50 per share, with a total value of $83,330.50.
• On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou purchased 1,148 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.94 per share, for a total transaction of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.68 per share, with a total value of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.39 per share, with a total value of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.10 per share, with a total value of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou acquired 1,126 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.73 per share, for a total transaction of $82,651.38.

Navios Maritime Partners Stock Up 1.4%

NMM stock opened at $71.09 on Thursday. Navios Maritime Partners LP has a 52 week low of $37.42 and a 52 week high of $80.69. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a 50-day simple moving average of $72.02 and a 200-day simple moving average of $65.25. The stock has a market capitalization of $2.04 billion, a P/E ratio of 5.99 and a beta of 1.00.

Navios Maritime Partners (NYSE:NMM) last issued 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 net margin of 25.05% and a return on equity of 10.48%. The firm had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same period last year, the company posted $1.58 EPS. Navios Maritime Partners’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. This is a boost 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 (DPR) is 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Navios Maritime Partners by 95.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock worth $1,572,000 after purchasing an additional 17,040 shares during the last quarter. Arbiter Partners Capital Management LLC acquired a new position in Navios Maritime Partners in the third quarter valued at about $1,117,000. Marnell Management LLC purchased a new position in Navios Maritime Partners during the fourth quarter worth about $5,027,000. ING Groep NV boosted its stake in Navios Maritime Partners by 51.7% during the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after buying an additional 49,900 shares during the period. Finally, Live Oak Investment Partners increased its position in shares of Navios Maritime Partners by 6.8% during the fourth quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company’s stock valued at $1,692,000 after acquiring an additional 2,063 shares during the last quarter. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NMM shares. Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Finally, Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. 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, the company presently 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.