Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases $82,717.90 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,195 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were bought at an average price of $69.22 per share, with a total value of $82,717.90. Following the transaction, the insider owned 4,756,211 shares in the company, valued at $329,224,925.42. This represents a 0.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $69.50 per share, for a total transaction of $83,330.50.
• On Monday, June 29th, Angeliki Frangou purchased 1,208 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $68.88 per share, with a total value of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $71.94 per share, with a total value of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.68 per share, for a total transaction of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.39 per share, with a total value of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou bought 1,151 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.35 per share, with a total value of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.63 per share, with a total value of $82,391.97.
• On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.73 per share, for a total transaction of $82,651.38.

Navios Maritime Partners Trading Up 1.1%

Shares of NMM traded up $0.76 during mid-day trading on Tuesday, hitting $70.26. The company had a trading volume of 95,554 shares, compared to its average volume of 101,852. Navios Maritime Partners LP has a 1-year low of $36.88 and a 1-year high of $80.69. The business’s 50-day simple moving average is $72.00 and its 200-day simple moving average is $65.11. The stock has a market cap of $2.01 billion, a PE ratio of 5.92 and a beta of 1.01. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

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 the consensus estimate of $2.77 by $0.58. The firm had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. Navios Maritime Partners’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a $0.06 dividend. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ion Asset Management Ltd. grew its position in Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after acquiring an additional 17,285 shares in the last quarter. ION Fund Management Ltd acquired a new position in shares of Navios Maritime Partners during the fourth quarter worth $24,432,000. Bank of America Corp DE boosted its stake in shares of Navios Maritime Partners by 57.6% in 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 purchasing an additional 72,754 shares during the period. Walleye Capital LLC grew its holdings in Navios Maritime Partners by 45,274.3% during the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after purchasing an additional 149,858 shares in the last quarter. Finally, ING Groep NV grew its holdings in Navios Maritime Partners by 51.7% during the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after purchasing an additional 49,900 shares in the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NMM shares. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Finally, Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Navios Maritime Partners currently has a consensus rating of “Moderate Buy” and an average 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.