Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys $83,515.90 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,105 shares of the business’s stock in a transaction dated Tuesday, July 14th. The stock was bought at an average cost of $75.58 per share, with a total value of $83,515.90. Following the completion of the acquisition, the insider directly owned 4,768,783 shares of the company’s stock, valued at approximately $360,424,619.14. This trade represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, July 13th, Angeliki Frangou purchased 1,100 shares of Navios Maritime Partners stock. The stock was bought at an average price of $75.41 per share, with a total value of $82,951.00.
• On Friday, July 10th, Angeliki Frangou acquired 1,129 shares of Navios Maritime Partners stock. The shares were bought at an average price of $75.36 per share, for a total transaction of $85,081.44.
• On Thursday, July 9th, Angeliki Frangou acquired 1,099 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.74 per share, for a total transaction of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou bought 1,108 shares of Navios Maritime Partners stock. The stock was bought at an average price of $76.14 per share, with a total value of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $75.12 per share, with a total value of $83,608.56.
• On Monday, July 6th, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.48 per share, for a total transaction of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou acquired 1,173 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.05 per share, with a total value of $85,687.65.
• On Wednesday, July 1st, Angeliki Frangou bought 1,189 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou bought 1,195 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $69.22 per share, for a total transaction of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $69.50 per share, for a total transaction of $83,330.50.

Navios Maritime Partners Price Performance

NYSE:NMM traded down $0.39 during trading hours on Tuesday, hitting $75.02. The stock had a trading volume of 127,161 shares, compared to its average volume of 87,713. The company has a 50 day simple moving average of $72.58 and a two-hundred day simple moving average of $66.75. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. Navios Maritime Partners LP has a one year low of $38.77 and a one year high of $80.69. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 6.32 and a beta of 1.00.

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

Navios Maritime Partners Increases Dividend

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NMM. JPMorgan Chase & Co. boosted its stake in shares of Navios Maritime Partners by 95.5% in 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 in the last quarter. Marnell Management LLC purchased a new position in Navios Maritime Partners in the 4th quarter worth $5,027,000. ING Groep NV lifted its stake in Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after purchasing an additional 49,900 shares during the last quarter. SG Americas Securities LLC bought a new stake in Navios Maritime Partners in the first quarter worth $622,000. Finally, Moors & Cabot Inc. boosted its position in Navios Maritime Partners by 0.8% during the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock valued at $4,175,000 after buying an additional 750 shares during the period. 62.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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