Navios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou bought 1,160 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The shares were bought at an average cost of $73.24 per share, with a total value of $84,958.40. Following the completion of the purchase, the insider directly owned 4,726,267 shares of the company’s stock, valued at $346,151,795.08. This represents a 0.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.
Angeliki Frangou also recently made the following trade(s):
- On Wednesday, May 20th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $75.48 per share, with a total value of $84,009.24.
- On Monday, May 18th, Angeliki Frangou bought 1,163 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.85 per share, with a total value of $83,561.55.
- On Friday, May 15th, Angeliki Frangou bought 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $70.93 per share, with a total value of $83,129.96.
- On Thursday, May 14th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.61 per share, with a total value of $83,712.09.
- On Wednesday, May 13th, Angeliki Frangou purchased 1,134 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.69 per share, with a total value of $82,430.46.
- 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 purchased 1,111 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.85 per share, with a total value of $82,047.35.
- On Friday, May 8th, Angeliki Frangou purchased 1,164 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.62 per share, with a total value of $86,857.68.
- On Thursday, May 7th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.49 per share, with a total value of $82,276.15.
- On Wednesday, May 6th, Angeliki Frangou purchased 1,086 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.77 per share, with a total value of $81,200.22.
Navios Maritime Partners Stock Up 0.9%
Shares of NMM opened at $75.53 on Thursday. The company has a market cap of $2.17 billion, a PE ratio of 7.86 and a beta of 1.06. The business has a fifty day moving average of $69.21 and a 200 day moving average of $61.12. Navios Maritime Partners LP has a 52-week low of $36.62 and a 52-week high of $77.90. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56.
Navios Maritime Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were given a dividend of $0.06 per share. 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 was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio is 2.50%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on NMM shares. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Weiss Ratings upgraded Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group started coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $85.00.
Institutional Trading of Navios Maritime Partners
Several institutional investors and hedge funds have recently made changes to their positions in the business. Ion Asset Management Ltd. increased its stake in shares of Navios Maritime Partners by 2.2% during the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after buying an additional 17,285 shares during the period. ION Fund Management Ltd purchased a new position in shares of Navios Maritime Partners during the fourth quarter valued at $24,432,000. Bank of America Corp DE increased its stake in shares of Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after buying an additional 72,754 shares during the period. Walleye Capital LLC increased its stake in shares of Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after buying an additional 149,858 shares during the period. Finally, ING Groep NV increased its stake in shares of Navios Maritime Partners by 51.7% during the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after buying an additional 49,900 shares during the period. 62.74% of the stock is currently owned by institutional investors.
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.
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