Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Buys 1,170 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,170 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average price of $70.65 per share, for a total transaction of $82,660.50. Following the transaction, the insider owned 4,733,023 shares of the company’s stock, valued at approximately $334,388,074.95. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Friday, May 29th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.57 per share, with a total value of $83,205.72.
• On Wednesday, May 27th, Angeliki Frangou purchased 1,132 shares of Navios Maritime Partners stock. The shares were bought at an average price of $72.61 per share, with a total value of $82,194.52.
• On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.30 per share, for a total transaction of $82,918.80.
• On Thursday, May 21st, Angeliki Frangou acquired 1,107 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $77.81 per share, for a total transaction of $86,135.67.
• On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou purchased 1,160 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.24 per share, for a total transaction of $84,958.40.
• On Monday, May 18th, Angeliki Frangou purchased 1,163 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.85 per share, for a total transaction of $83,561.55.
• On Friday, May 15th, Angeliki Frangou purchased 1,172 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.61 per share, for a total transaction of $83,712.09.

Navios Maritime Partners Trading Down 0.6%

Shares of NYSE:NMM traded down $0.43 during midday trading on Friday, hitting $69.23. 150,803 shares of the stock were exchanged, compared to its average volume of 158,294. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 5.83 and a beta of 1.06. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.13 and a current ratio of 1.45. The business’s 50-day moving average price is $70.51 and its 200 day moving average price is $62.20. Navios Maritime Partners LP has a 12 month low of $36.62 and a 12 month high of $80.69.

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

Navios Maritime Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend 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 currently 2.02%.

Wall Street Analysts Forecast Growth

NMM has been the topic of a number of research analyst reports. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report 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 target price on the stock. Finally, Weiss Ratings cut Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

A number of institutional investors and hedge funds have recently bought and sold shares of NMM. ION Fund Management Ltd purchased a new stake in Navios Maritime Partners in the 4th quarter valued at $24,432,000. Walleye Capital LLC raised its position in Navios Maritime Partners by 45,274.3% in the 1st 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 last quarter. Marnell Management LLC purchased a new stake in Navios Maritime Partners in the 4th quarter valued at $5,027,000. Bank of America Corp DE raised its position in Navios Maritime Partners by 57.6% in the 1st 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 last quarter. Finally, ING Groep NV raised its position in Navios Maritime Partners by 123.6% in the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after buying an additional 53,400 shares during the last quarter. 62.74% of the stock is owned by hedge funds and other institutional investors.

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.