Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Purchases 1,162 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,162 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were acquired at an average cost of $71.02 per share, with a total value of $82,525.24. Following the completion of the purchase, the insider directly owned 4,741,231 shares in the company, valued at $336,722,225.62. The trade was a 0.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, June 5th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.66 per share, with a total value of $83,627.22.
• On Thursday, June 4th, Angeliki Frangou purchased 1,166 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.77 per share, with a total value of $83,683.82.
• On Wednesday, June 3rd, Angeliki Frangou purchased 1,156 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.14 per share, with a total value of $83,393.84.
• On Tuesday, June 2nd, Angeliki Frangou purchased 1,158 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.25 per share, with a total value of $83,665.50.
• On Monday, June 1st, Angeliki Frangou purchased 1,203 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.36 per share, with a total value of $85,846.08.
• On Friday, May 29th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $69.57 per share, with a total value of $83,205.72.
• On Thursday, May 28th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.65 per share, with a total value of $82,660.50.
• On Wednesday, May 27th, Angeliki Frangou purchased 1,132 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou purchased 1,118 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $73.63 per share, with a total value of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou purchased 1,116 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.30 per share, with a total value of $82,918.80.

Navios Maritime Partners Price Performance

Shares of NMM stock opened at $71.13 on Tuesday. Navios Maritime Partners LP has a 52-week low of $36.62 and a 52-week high of $80.69. 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 firm has a market capitalization of $2.04 billion, a P/E ratio of 5.99 and a beta of 1.02. The stock has a 50 day moving average price of $71.13 and a 200 day moving average price of $63.10.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same period last year, the company earned $1.58 EPS. Navios Maritime Partners’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.06 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. 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 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds have recently modified their holdings of the business. Ion Asset Management Ltd. lifted its position in shares of 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 during the period. ION Fund Management Ltd purchased a new stake in shares of Navios Maritime Partners in the 4th quarter worth approximately $24,432,000. Bank of America Corp DE lifted its position in shares of Navios Maritime Partners by 57.6% in the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after purchasing an additional 72,754 shares during the period. Walleye Capital LLC lifted its position in shares of Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after purchasing an additional 149,858 shares during the period. Finally, ING Groep NV lifted its position in shares of Navios Maritime Partners by 51.7% in the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after purchasing an additional 49,900 shares during the period. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on NMM shares. Weiss Ratings lowered 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 shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group initiated coverage on shares of 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 equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.