Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $82,047.35 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,111 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average price of $73.85 per share, for a total transaction of $82,047.35. Following the completion of the transaction, the insider directly owned 4,719,331 shares of the company’s stock, valued at $348,522,594.35. This represents a 0.02% increase in their position. The acquisition 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 Tuesday, May 12th, Angeliki Frangou bought 1,138 shares of Navios Maritime Partners stock. The shares were bought at an average price of $72.99 per share, for a total transaction of $83,062.62.
• On Friday, May 8th, Angeliki Frangou bought 1,164 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.62 per share, for a total transaction of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The shares were bought at an average price 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 shares were bought at an average price of $74.77 per share, for a total transaction of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou purchased 1,171 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.55 per share, for a total transaction of $87,298.05.
• On Monday, May 4th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.74 per share, for a total transaction of $83,864.06.
• On Friday, May 1st, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.08 per share, for a total transaction of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou purchased 1,176 shares of Navios Maritime Partners stock. The shares were acquired at an average cost 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 shares were acquired at an average cost of $71.72 per share, for a total transaction of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou purchased 1,145 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.08 per share, for a total transaction of $82,531.60.

Navios Maritime Partners Price Performance

NYSE:NMM opened at $70.99 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $68.83 and its two-hundred day simple moving average is $60.37. The stock has a market cap of $2.04 billion, a PE ratio of 7.39 and a beta of 1.06. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $77.90.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The firm had revenue of $365.55 million for the quarter, compared to analysts’ expectations of $316.00 million. During the same period in the previous year, the firm posted $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 company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were issued a $0.06 dividend. 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. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s payout ratio is presently 2.50%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on 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 raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Finally, Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $85.00.

Institutional Trading of Navios Maritime Partners

Large investors have recently modified their holdings of the company. Royal Bank of Canada boosted its holdings in shares of Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 202 shares during the period. Valley Wealth Managers Inc. purchased a new stake in shares of Navios Maritime Partners in the first quarter valued at approximately $63,000. State of Wyoming purchased a new stake in shares of Navios Maritime Partners in the fourth quarter valued at approximately $137,000. Corient Private Wealth LLC purchased a new stake in shares of Navios Maritime Partners in the fourth quarter valued at approximately $207,000. Finally, Mariner LLC purchased a new stake in shares of Navios Maritime Partners in the fourth quarter valued at approximately $208,000. 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.