Angeliki Frangou Purchases 1,164 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,164 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were bought at an average price of $74.62 per share, for a total transaction of $86,857.68. Following the completion of the acquisition, the insider owned 4,718,220 shares in the company, valued at approximately $352,073,576.40. This trade represents a 0.02% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, May 12th, Angeliki Frangou purchased 1,138 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.99 per share, with a total value of $83,062.62.
• On Monday, May 11th, Angeliki Frangou acquired 1,111 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.85 per share, for a total transaction of $82,047.35.
• On Thursday, May 7th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.49 per share, for a total transaction of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou bought 1,086 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.77 per share, with a total value of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou purchased 1,171 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.55 per share, for a total transaction of $87,298.05.
• On Monday, May 4th, Angeliki Frangou acquired 1,169 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.74 per share, for a total transaction of $83,864.06.
• On Friday, May 1st, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.08 per share, with a total value of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou purchased 1,176 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $72.03 per share, for a total transaction of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.72 per share, with a total value of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou acquired 1,145 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.08 per share, for a total transaction of $82,531.60.

Navios Maritime Partners Stock Performance

Navios Maritime Partners stock opened at $71.36 on Thursday. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $77.90. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The stock has a market cap of $2.05 billion, a P/E ratio of 7.43 and a beta of 1.06. The stock has a 50 day moving average of $68.83 and a 200-day moving average of $60.20.

Navios Maritime Partners (NYSE:NMM) last issued 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. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The business had revenue of $365.55 million during the quarter, compared to analyst estimates of $316.00 million. During the same quarter in the previous year, the firm earned $2.61 earnings per share. The business’s revenue was up 10.0% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, May 11th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is 2.50%.

Hedge Funds Weigh In On Navios Maritime Partners

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its position in Navios Maritime Partners by 95.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock valued at $1,572,000 after purchasing an additional 17,040 shares during the period. Arbiter Partners Capital Management LLC bought a new position in Navios Maritime Partners in the 3rd quarter worth about $1,117,000. ING Groep NV increased its stake in shares of Navios Maritime Partners by 123.6% in the third quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after purchasing an additional 53,400 shares during the period. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners in the 1st quarter worth approximately $63,000. Finally, SG Americas Securities LLC bought a new position in Navios Maritime Partners in the 1st quarter worth approximately $622,000. 62.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on NMM. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Jefferies Financial Group started coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target for the company. Finally, Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $85.00.

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.