Navios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock in a transaction on Thursday, May 7th. The shares were bought at an average cost of $72.49 per share, with a total value of $82,276.15. Following the completion of the purchase, the insider owned 4,717,056 shares in the company, valued at $341,939,389.44. The trade was a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Angeliki Frangou also recently made the following trade(s):
- On Wednesday, May 6th, Angeliki Frangou bought 1,086 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.77 per share, for a total transaction of $81,200.22.
- On Tuesday, May 5th, Angeliki Frangou bought 1,171 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $74.55 per share, for a total transaction of $87,298.05.
- On Monday, May 4th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.74 per share, for a total transaction of $83,864.06.
- On Friday, May 1st, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were bought at an average price of $71.08 per share, with a total value of $82,097.40.
- On Thursday, April 30th, Angeliki Frangou purchased 1,176 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.03 per share, with a total value of $84,707.28.
- On Wednesday, April 29th, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.72 per share, for a total transaction of $83,123.48.
- On Tuesday, April 28th, Angeliki Frangou acquired 1,145 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.08 per share, for a total transaction of $82,531.60.
- On Monday, April 27th, Angeliki Frangou acquired 1,185 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.44 per share, with a total value of $84,656.40.
- On Friday, April 24th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $70.39 per share, with a total value of $84,186.44.
- On Thursday, April 23rd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $70.22 per share, with a total value of $83,351.14.
Navios Maritime Partners Stock Up 4.7%
Shares of NYSE:NMM opened at $74.90 on Friday. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 7.79 and a beta of 1.06. The firm’s 50-day simple moving average is $68.61 and its 200-day simple moving average is $59.42. 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 LP has a fifty-two week low of $36.61 and a fifty-two week high of $77.90.
Navios Maritime Partners Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s payout ratio is presently 2.08%.
Hedge Funds Weigh In On Navios Maritime Partners
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMM. ION Fund Management Ltd purchased a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $24,432,000. Marnell Management LLC purchased a new position in shares of Navios Maritime Partners during the 4th quarter worth approximately $5,027,000. ING Groep NV raised its position in shares of Navios Maritime Partners by 123.6% during the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after purchasing an additional 53,400 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Navios Maritime Partners by 150.9% during the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock worth $4,589,000 after purchasing an additional 52,651 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Navios Maritime Partners in the 4th quarter valued at approximately $1,507,000. Institutional investors and hedge funds own 62.74% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on NMM shares. Wall Street Zen raised 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 research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective for the company. Finally, Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $85.00.
Check Out Our Latest Stock Analysis on Navios Maritime Partners
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.
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