Navios Maritime Partners (NYSE:NMM) Insider Acquires $83,608.56 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,113 shares of the stock in a transaction on Tuesday, July 7th. The shares were acquired at an average cost of $75.12 per share, with a total value of $83,608.56. Following the transaction, the insider directly owned 4,763,242 shares in the company, valued at $357,814,739.04. The trade was a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, July 9th, Angeliki Frangou bought 1,099 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.74 per share, with a total value of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou purchased 1,108 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $76.14 per share, with a total value of $84,363.12.
• On Monday, July 6th, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.48 per share, with a total value of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou purchased 1,173 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.05 per share, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou acquired 1,189 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.59 per share, with a total value of $85,120.51.
• On Friday, June 26th, Angeliki Frangou acquired 1,195 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou bought 1,208 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $68.88 per share, for a total transaction of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou purchased 1,148 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.94 per share, for a total transaction of $82,587.12.

Navios Maritime Partners Stock Down 2.8%

NMM stock traded down $2.14 during midday trading on Thursday, hitting $73.68. The stock had a trading volume of 116,829 shares, compared to its average volume of 94,287. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 6.21 and a beta of 1.00. The business has a 50-day moving average of $72.45 and a two-hundred day moving average of $66.25. Navios Maritime Partners LP has a 52-week low of $37.66 and a 52-week high of $80.69. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45.

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

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio (DPR) is 2.02%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NMM. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Finally, Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Trading of Navios Maritime Partners

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its position in Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after purchasing an additional 202 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Navios Maritime Partners by 5.6% during the 3rd quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock valued at $324,000 after buying an additional 380 shares during the period. Moors & Cabot Inc. boosted its stake in shares of Navios Maritime Partners by 0.8% in the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after buying an additional 750 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Navios Maritime Partners in the 1st quarter worth $63,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Navios Maritime Partners by 25.4% in the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after acquiring an additional 1,559 shares during the period. 62.74% of the stock is owned by hedge funds and other institutional investors.

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.