Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,135 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock in a transaction dated Friday, June 12th. The shares were purchased at an average price of $74.19 per share, with a total value of $84,205.65. Following the completion of the transaction, the insider directly owned 4,745,850 shares in the company, valued at approximately $352,094,611.50. This represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The shares were purchased at an average price 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 purchased at an average price of $74.73 per share, with a total value of $82,651.38.
• On Thursday, June 11th, Angeliki Frangou bought 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 bought 1,154 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.18 per share, with a total value of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou bought 1,175 shares of Navios Maritime Partners stock. The stock was bought 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 stock was bought at an average price 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 stock was bought 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 price 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 price 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 stock was bought at an average price of $72.25 per share, with a total value of $83,665.50.

Navios Maritime Partners Price Performance

NYSE:NMM traded down $0.55 during midday trading on Tuesday, hitting $73.87. The company had a trading volume of 86,495 shares, compared to its average volume of 145,979. Navios Maritime Partners LP has a 52-week low of $36.62 and a 52-week high of $80.69. The stock’s fifty day moving average price is $71.87 and its 200-day moving average price is $63.96. The company has a market capitalization of $2.12 billion, a PE ratio of 6.22 and a beta of 1.01. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

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. 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 analyst estimates of $317.80 million. During the same period in the previous year, the business earned $1.58 earnings per share. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a 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 presently 2.02%.

Analysts Set New Price Targets

NMM has been the subject of several research reports. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. Finally, Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $85.00.

Institutional Trading of Navios Maritime Partners

A number of institutional investors have recently modified their holdings of the company. Ion Asset Management Ltd. boosted its holdings in shares of Navios Maritime Partners by 2.2% during the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after purchasing an additional 17,285 shares during the period. ION Fund Management Ltd purchased a new stake in shares of Navios Maritime Partners during the fourth quarter worth about $24,432,000. Bank of America Corp DE boosted its holdings in shares of Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after purchasing an additional 72,754 shares during the period. Walleye Capital LLC boosted its holdings in shares of Navios Maritime Partners by 45,274.3% during the first 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 period. Finally, ING Groep NV boosted its holdings in shares of 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 purchasing an additional 49,900 shares during the period. 62.74% of the stock is currently 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.