Navios Maritime Partners (NYSE:NMM) Insider Purchases $82,951.00 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,100 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was acquired at an average cost of $75.41 per share, for a total transaction of $82,951.00. Following the completion of the purchase, the insider directly owned 4,767,678 shares in the company, valued at approximately $359,530,597.98. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, July 14th, Angeliki Frangou purchased 1,105 shares of Navios Maritime Partners stock. The stock was bought at an average price of $75.58 per share, with a total value of $83,515.90.
• On Friday, July 10th, Angeliki Frangou purchased 1,129 shares of Navios Maritime Partners stock. The stock was bought at an average price of $75.36 per share, with a total value of $85,081.44.
• On Thursday, July 9th, Angeliki Frangou purchased 1,099 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.74 per share, with a total value of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou acquired 1,108 shares of Navios Maritime Partners stock. The shares were bought at an average price of $76.14 per share, for a total transaction of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were bought at an average price of $75.12 per share, for a total transaction of $83,608.56.
• On Monday, July 6th, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.48 per share, for a total transaction of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou bought 1,173 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.05 per share, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou bought 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 bought 1,195 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.50 per share, for a total transaction of $83,330.50.

Navios Maritime Partners Stock Down 0.7%

NYSE NMM opened at $74.49 on Friday. The business’s fifty day simple moving average is $72.66 and its 200-day simple moving average is $67.08. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a market cap of $2.14 billion, a PE ratio of 6.28 and a beta of 1.00. Navios Maritime Partners LP has a 52 week low of $39.11 and a 52 week high of $80.69.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data 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 firm had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Navios Maritime Partners’s quarterly revenue was up 17.4% on a year-over-year basis.

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. This represents a $0.24 annualized dividend and a 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 presently 2.02%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Navios Maritime Partners

Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of Navios Maritime Partners by 64.6% in the 2nd 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 purchased a new position in shares of Navios Maritime Partners during the 2nd quarter worth approximately $580,000. Cerity Partners LLC purchased a new position in shares of Navios Maritime Partners during the 2nd quarter worth approximately $212,000. BNP Paribas Financial Markets increased its holdings in Navios Maritime Partners by 25.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock valued at $290,000 after purchasing an additional 1,559 shares during the last quarter. Finally, Ion Asset Management Ltd. increased its holdings 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 valued at $30,821,000 after purchasing an additional 17,285 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.

About Navios Maritime Partners

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.