Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys $82,097.40 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average price of $71.08 per share, for a total transaction of $82,097.40. Following the completion of the acquisition, the insider directly owned 4,712,495 shares of the company’s stock, valued at $334,964,144.60. The trade was a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, May 4th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.74 per share, for a total transaction of $83,864.06.
• On Thursday, April 30th, Angeliki Frangou bought 1,176 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.03 per share, for a total transaction of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.72 per share, for a total transaction of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou bought 1,145 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.08 per share, for a total transaction of $82,531.60.
• On Monday, April 27th, Angeliki Frangou bought 1,185 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.44 per share, for a total transaction of $84,656.40.
• On Friday, April 24th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The stock was bought at an average price of $70.39 per share, for a total transaction of $84,186.44.
• On Thursday, April 23rd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The stock was bought at an average price of $70.22 per share, for a total transaction of $83,351.14.
• On Wednesday, April 22nd, Angeliki Frangou bought 1,214 shares of Navios Maritime Partners stock. The stock was bought at an average price of $69.58 per share, for a total transaction of $84,470.12.
• On Monday, April 20th, Angeliki Frangou bought 1,190 shares of Navios Maritime Partners stock. The stock was bought at an average price of $70.30 per share, for a total transaction of $83,657.00.
• On Friday, April 17th, Angeliki Frangou purchased 1,201 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.39 per share, for a total transaction of $84,538.39.

Navios Maritime Partners Price Performance

Navios Maritime Partners stock opened at $73.47 on Thursday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 7.65 and a beta of 1.06. Navios Maritime Partners LP has a 52-week low of $35.05 and a 52-week high of $77.90. The stock’s 50 day moving average price is $68.55 and its two-hundred day moving average price is $59.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.99. The firm had revenue of $365.55 million for the quarter, compared to analysts’ expectations of $316.00 million. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.61 EPS.

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is 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 currently 2.08%.

Hedge Funds Weigh In On Navios Maritime Partners

Large investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in shares of 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 in the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Navios Maritime Partners in the 1st quarter worth $63,000. State of Wyoming bought a new position in shares of Navios Maritime Partners in the 4th quarter worth $137,000. Corient Private Wealth LLC bought a new position in shares of Navios Maritime Partners in the 4th quarter worth $207,000. Finally, Mariner LLC bought a new position in shares of Navios Maritime Partners in the 4th quarter worth $208,000. 62.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NMM has been the topic of a number of research analyst reports. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Weiss Ratings upgraded Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Finally, Jefferies Financial Group initiated coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “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.