Navios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou bought 1,200 shares of the company’s stock in a transaction on Monday, April 6th. The shares were bought at an average price of $70.47 per share, with a total value of $84,564.00. Following the completion of the transaction, the insider owned 4,689,977 shares of the company’s stock, valued at $330,502,679.19. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Angeliki Frangou also recently made the following trade(s):
- On Wednesday, April 8th, Angeliki Frangou bought 1,208 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.40 per share, with a total value of $86,251.20.
- On Tuesday, April 7th, Angeliki Frangou bought 1,173 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.09 per share, with a total value of $82,215.57.
- On Thursday, April 2nd, Angeliki Frangou bought 1,229 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.46 per share, with a total value of $85,366.34.
- On Wednesday, April 1st, Angeliki Frangou bought 1,234 shares of Navios Maritime Partners stock. The shares were bought at an average price of $68.21 per share, with a total value of $84,171.14.
- On Monday, March 23rd, Angeliki Frangou bought 1,289 shares of Navios Maritime Partners stock. The shares were bought at an average price of $64.87 per share, with a total value of $83,617.43.
- On Friday, March 20th, Angeliki Frangou purchased 1,247 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $66.71 per share, for a total transaction of $83,187.37.
- On Thursday, March 19th, Angeliki Frangou purchased 1,235 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $67.00 per share, for a total transaction of $82,745.00.
Navios Maritime Partners Price Performance
Shares of NMM stock traded up $3.15 during trading hours on Wednesday, hitting $72.12. 220,881 shares of the company’s stock were exchanged, compared to its average volume of 213,882. The company has a market capitalization of $2.07 billion, a PE ratio of 7.50 and a beta of 1.23. Navios Maritime Partners LP has a 12-month low of $28.37 and a 12-month high of $74.21. The business’s 50 day simple moving average is $65.46 and its 200-day simple moving average is $55.96. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.
Navios Maritime Partners Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, February 9th. Navios Maritime Partners’s payout ratio is presently 2.08%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy”.
Read Our Latest Analysis on Navios Maritime Partners
Institutional Trading of Navios Maritime Partners
Several large investors have recently added to or reduced their stakes in the stock. Ion Asset Management Ltd. boosted its holdings in Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after acquiring an additional 17,285 shares in the last quarter. ION Fund Management Ltd bought a new stake in Navios Maritime Partners in the fourth quarter valued at $24,432,000. Commonwealth Equity Services LLC boosted its holdings in Navios Maritime Partners by 1.3% in the third quarter. Commonwealth Equity Services LLC now owns 158,749 shares of the shipping company’s stock valued at $7,152,000 after acquiring an additional 2,045 shares in the last quarter. ING Groep NV boosted its holdings in Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after acquiring an additional 49,900 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Navios Maritime Partners by 28.8% in the third quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock valued at $5,314,000 after acquiring an additional 26,340 shares in the last quarter. Institutional investors own 62.74% of the company’s stock.
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.
Further Reading
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