Navios Maritime Partners (NYSE:NMM) Insider Buys $82,391.97 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock in a transaction dated Tuesday, June 16th. The shares were acquired at an average cost of $73.63 per share, with a total value of $82,391.97. Following the completion of the acquisition, the insider directly owned 4,748,075 shares in the company, valued at $349,600,762.25. This trade represents a 0.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The shares were bought at an average cost 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 bought at an average price of $74.19 per share, for a total transaction of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was bought at an average cost 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 shares were bought at an average price of $72.18 per share, with a total value of $83,295.72.
• On Tuesday, June 9th, Angeliki Frangou purchased 1,175 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.09 per share, for a total transaction of $84,705.75.
• On Monday, June 8th, Angeliki Frangou purchased 1,162 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.02 per share, for a total transaction of $82,525.24.
• On Friday, June 5th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou acquired 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 purchased 1,156 shares of Navios Maritime Partners stock. The shares were purchased 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 stock was purchased at an average price of $72.25 per share, with a total value of $83,665.50.

Navios Maritime Partners Trading Down 2.9%

Shares of NMM opened at $70.32 on Friday. The stock has a fifty day moving average price of $71.92 and a two-hundred day moving average price of $64.21. 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 52-week low of $36.62 and a 52-week high of $80.69. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 5.92 and a beta of 1.01.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly 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 business had revenue of $357.01 million for the quarter, compared to the consensus estimate of $317.80 million. During the same quarter in the prior year, the company earned $1.58 EPS. The firm’s quarterly revenue was up 17.4% on a year-over-year basis.

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 paid a $0.06 dividend. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. 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%. Navios Maritime Partners’s payout ratio is 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC grew its holdings in Navios Maritime Partners by 74.1% during the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after acquiring an additional 4,644 shares during the period. Bank of America Corp DE lifted its stake in shares of Navios Maritime Partners by 57.6% in the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after purchasing an additional 72,754 shares during the period. Sei Investments Co. acquired a new position in shares of Navios Maritime Partners in the 1st quarter valued at $1,889,000. Walleye Capital LLC boosted its position in shares of Navios Maritime Partners by 45,274.3% in the 1st 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 last quarter. Finally, State of Wyoming boosted its position in shares of Navios Maritime Partners by 77.8% in the 1st quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock worth $313,000 after purchasing an additional 2,029 shares during the last quarter. 62.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Weiss Ratings lowered 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 started coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective for the company. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average 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.