Navios Maritime Partners (NYSE:NMM) Insider Purchases $83,295.72 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,154 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were bought at an average cost of $72.18 per share, with a total value of $83,295.72. Following the completion of the purchase, the insider directly owned 4,743,560 shares in the company, valued at $342,390,160.80. This represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.34 per share, with a total value of $84,707.70.
• On Tuesday, June 9th, Angeliki Frangou bought 1,175 shares of Navios Maritime Partners stock. The shares were bought at an average cost 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 bought 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 bought at an average cost 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 shares were 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 shares were bought 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 bought 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 bought 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 bought 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 bought at an average cost of $70.65 per share, with a total value of $82,660.50.

Navios Maritime Partners Stock Up 1.4%

NMM traded up $1.04 on Thursday, hitting $73.16. 125,905 shares of the company were exchanged, compared to its average volume of 134,769. Navios Maritime Partners LP has a twelve month low of $36.62 and a twelve month high of $80.69. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 6.16 and a beta of 1.01. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $71.53 and a two-hundred day moving average price of $63.51.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping the consensus estimate of $2.77 by $0.58. The firm had revenue of $357.01 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

The firm 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. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s payout ratio is currently 2.02%.

Institutional Trading of Navios Maritime Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Navios Maritime Partners by 95.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock valued at $1,572,000 after purchasing an additional 17,040 shares during the last quarter. Arbiter Partners Capital Management LLC purchased a new stake in shares of Navios Maritime Partners in the 3rd quarter valued at about $1,117,000. ING Groep NV lifted its holdings in shares of Navios Maritime Partners by 123.6% in the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after purchasing an additional 53,400 shares during the last quarter. Live Oak Investment Partners lifted its holdings in shares of Navios Maritime Partners by 6.8% in the 4th quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company’s stock valued at $1,692,000 after purchasing an additional 2,063 shares during the last quarter. Finally, Sei Investments Co. purchased a new stake in shares of Navios Maritime Partners in the 1st quarter valued at about $1,889,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NMM. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Jefferies Financial Group began coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective for the company. Finally, Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

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.