Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,063 Shares of Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,063 shares of Navios Maritime Partners stock in a transaction that occurred on Thursday, August 6th. The shares were bought at an average cost of $79.53 per share, with a total value of $84,540.39. Following the completion of the transaction, the insider directly owned 4,786,678 shares of the company’s stock, valued at approximately $380,684,501.34. The trade was a 0.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, August 7th, Angeliki Frangou purchased 1,054 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $78.94 per share, for a total transaction of $83,202.76.
• On Wednesday, August 5th, Angeliki Frangou acquired 1,064 shares of Navios Maritime Partners stock. The shares were bought at an average price of $78.41 per share, for a total transaction of $83,428.24.
• On Tuesday, August 4th, Angeliki Frangou acquired 1,041 shares of Navios Maritime Partners stock. The shares were bought at an average price of $78.94 per share, for a total transaction of $82,176.54.
• On Monday, August 3rd, Angeliki Frangou acquired 653 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $79.91 per share, with a total value of $52,181.23.
• On Friday, July 31st, Angeliki Frangou acquired 830 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $80.00 per share, with a total value of $66,400.00.
• On Thursday, July 30th, Angeliki Frangou bought 1,068 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $78.37 per share, with a total value of $83,699.16.
• On Wednesday, July 29th, Angeliki Frangou bought 1,051 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $78.55 per share, for a total transaction of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou bought 1,072 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $78.59 per share, for a total transaction of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou purchased 1,121 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.07 per share, for a total transaction of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.03 per share, with a total value of $85,060.47.

Navios Maritime Partners Stock Performance

Shares of NMM opened at $79.09 on Friday. The company has a market cap of $2.27 billion, a PE ratio of 6.66 and a beta of 1.02. The firm has a 50-day moving average of $74.14 and a 200-day moving average of $69.58. Navios Maritime Partners LP has a one year low of $42.77 and a one year high of $82.84. 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 issued its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $317.80 million. During the same period in the prior year, the firm earned $1.58 EPS. Navios Maritime Partners’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Navios Maritime Partners’s payout ratio is 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of Navios Maritime Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock valued at $672,000 after acquiring an additional 7,006 shares during the period. Jump Financial LLC bought a new position in Navios Maritime Partners during the second quarter worth about $580,000. Cerity Partners LLC bought a new position in Navios Maritime Partners during the second quarter worth about $212,000. BNP Paribas Financial Markets increased its position in Navios Maritime Partners by 25.4% during 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. Finally, Ion Asset Management Ltd. raised its stake in Navios Maritime Partners by 2.2% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NMM shares. Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.