Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,199 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,199 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were bought at an average cost of $69.50 per share, with a total value of $83,330.50. Following the transaction, the insider directly owned 4,758,618 shares of the company’s stock, valued at $330,723,951. The trade was a 0.03% 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 Friday, June 26th, Angeliki Frangou acquired 1,195 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $69.22 per share, for a total transaction of $82,717.90.
• On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $68.88 per share, with a total value of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average price of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The shares were bought 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 stock was purchased at an average price of $72.68 per share, with a total value of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.39 per share, with a total value 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 cost 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 stock was bought at an average price of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou bought 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 acquired 1,106 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.73 per share, with a total value of $82,651.38.

Navios Maritime Partners Stock Performance

Shares of Navios Maritime Partners stock opened at $70.26 on Wednesday. The firm has a fifty day moving average of $72.00 and a two-hundred day moving average of $65.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market capitalization 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.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.58. The company had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 EPS.

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.06 per share. 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 of this dividend was Monday, May 11th. Navios Maritime Partners’s payout ratio is currently 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ion Asset Management Ltd. lifted its stake in 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 last quarter. ION Fund Management Ltd acquired a new stake in Navios Maritime Partners in the fourth quarter valued at about $24,432,000. Bank of America Corp DE raised its stake in 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 acquiring an additional 72,754 shares in the last quarter. Walleye Capital LLC lifted its holdings in shares of Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after acquiring an additional 149,858 shares during the last quarter. Finally, ING Groep NV lifted its holdings in shares of Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after acquiring an additional 49,900 shares during the last quarter. 62.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NMM. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, Jefferies Financial Group began coverage on Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus 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.