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

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,063 shares of Navios Maritime Partners stock in a transaction dated Thursday, August 6th. The shares were bought at an average cost of $79.53 per share, for a total transaction of $84,540.39. Following the completion of the purchase, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

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

Navios Maritime Partners Stock Performance

NMM stock traded up $0.06 during midday trading on Friday, reaching $79.09. 56,289 shares of the company’s stock traded hands, compared to its average volume of 114,175. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.27 billion, a P/E ratio of 6.66 and a beta of 1.02. Navios Maritime Partners LP has a 52-week low of $42.77 and a 52-week high of $82.84. The stock’s 50-day moving average is $74.14 and its 200 day moving average is $69.58.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.58. The business had revenue of $357.01 million during the quarter, compared to analysts’ expectations of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 earnings per share.

Navios Maritime Partners Dividend Announcement

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 paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, August 10th. Navios Maritime Partners’s dividend payout ratio is presently 2.02%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on NMM shares. Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price on the stock. Weiss Ratings downgraded shares of 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. increased its position in shares of Navios Maritime Partners by 64.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock valued at $672,000 after purchasing an additional 7,006 shares during the last quarter. Jump Financial LLC bought a new position in Navios Maritime Partners during the second quarter valued at $580,000. Cerity Partners LLC purchased a new stake in shares of Navios Maritime Partners in the second quarter valued at $212,000. BNP Paribas Financial Markets boosted its stake in shares of Navios Maritime Partners by 25.4% during the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after purchasing an additional 1,559 shares during the period. Finally, Ion Asset Management Ltd. grew its holdings in Navios Maritime Partners by 2.2% during 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. Hedge funds and other institutional investors own 62.74% of the company’s stock.

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.