Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases $85,657.68 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,084 shares of the firm’s stock in a transaction on Friday, July 24th. The stock was purchased at an average price of $79.02 per share, for a total transaction of $85,657.68. Following the completion of the transaction, the insider directly owned 4,777,783 shares in the company, valued at approximately $377,540,412.66. The trade was a 0.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, July 30th, Angeliki Frangou bought 1,068 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $78.37 per share, with a total value of $83,699.16.
• On Wednesday, July 29th, Angeliki Frangou bought 1,051 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $78.55 per share, with a total value of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou purchased 1,072 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $78.59 per share, for a total transaction of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou purchased 1,121 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.07 per share, for a total transaction of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.03 per share, for a total transaction of $85,060.47.
• On Monday, July 20th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.95 per share, with a total value of $85,132.65.
• On Monday, July 27th, Angeliki Frangou acquired 1,053 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $77.64 per share, with a total value of $81,754.92.
• On Thursday, July 23rd, Angeliki Frangou acquired 1,131 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.81 per share, with a total value of $84,610.11.
• On Tuesday, July 14th, Angeliki Frangou bought 1,105 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $75.58 per share, for a total transaction of $83,515.90.
• On Monday, July 13th, Angeliki Frangou bought 1,100 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $75.41 per share, for a total transaction of $82,951.00.

Navios Maritime Partners Stock Up 1.6%

Shares of NYSE NMM opened at $79.22 on Friday. Navios Maritime Partners LP has a 1 year low of $40.80 and a 1 year high of $80.97. The firm’s 50-day moving average is $73.26 and its 200-day moving average is $68.69. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.27 billion, a PE ratio of 6.67 and a beta of 1.00.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, topping 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 business had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. During the same period in the previous year, the firm posted $1.58 earnings per share. Navios Maritime Partners’s revenue for the quarter was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, August 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is presently 2.02%.

Analyst Ratings Changes

Several research firms have recently issued reports on NMM. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Institutional Trading of Navios Maritime Partners

Institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 17,040 shares in the last quarter. Marnell Management LLC bought a new stake in Navios Maritime Partners during the fourth quarter worth about $5,027,000. ING Groep NV boosted its position in 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 purchasing an additional 49,900 shares during the last quarter. SG Americas Securities LLC acquired a new position in Navios Maritime Partners during the first quarter valued at approximately $622,000. Finally, Live Oak Investment Partners grew its stake in Navios Maritime Partners by 6.8% in the fourth quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company’s stock valued at $1,692,000 after purchasing an additional 2,063 shares in the last quarter. Institutional investors own 62.74% of the company’s stock.

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.