Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Buys 1,172 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,172 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $70.93 per share, for a total transaction of $83,129.96. Following the acquisition, the insider directly owned 4,723,944 shares of the company’s stock, valued at $335,069,347.92. The trade was a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, May 14th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.61 per share, for a total transaction of $83,712.09.
• On Wednesday, May 13th, Angeliki Frangou bought 1,134 shares of Navios Maritime Partners stock. The stock was bought at an average price of $72.69 per share, with a total value of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou acquired 1,138 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.99 per share, for a total transaction of $83,062.62.
• On Monday, May 11th, Angeliki Frangou purchased 1,111 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $73.85 per share, for a total transaction of $82,047.35.
• On Friday, May 8th, Angeliki Frangou bought 1,164 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.62 per share, for a total transaction of $86,857.68.
• On Thursday, May 7th, Angeliki Frangou acquired 1,135 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.49 per share, for a total transaction of $82,276.15.
• On Wednesday, May 6th, Angeliki Frangou purchased 1,086 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.77 per share, for a total transaction of $81,200.22.
• On Tuesday, May 5th, Angeliki Frangou acquired 1,171 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $74.55 per share, for a total transaction of $87,298.05.
• On Monday, May 4th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.74 per share, for a total transaction of $83,864.06.
• On Friday, May 1st, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.08 per share, for a total transaction of $82,097.40.

Navios Maritime Partners Price Performance

NMM stock traded up $0.31 on Friday, reaching $71.37. 55,035 shares of the company’s stock were exchanged, compared to its average volume of 136,610. The stock has a fifty day moving average of $68.82 and a 200-day moving average of $60.45. The firm has a market cap of $2.05 billion, a PE ratio of 7.43 and a beta of 1.06. 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 twelve month low of $36.62 and a twelve month high of $77.90.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. The company had revenue of $365.55 million during the quarter, compared to the consensus estimate of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $2.61 EPS.

Navios Maritime Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, May 11th. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is 2.50%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Jefferies Financial Group began coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target for the company. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Weiss Ratings upgraded Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $85.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. ION Fund Management Ltd purchased a new position in Navios Maritime Partners in the 4th quarter valued at about $24,432,000. Walleye Capital LLC increased its position in shares of Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after acquiring an additional 149,858 shares during the last quarter. Marnell Management LLC acquired a new position in shares of Navios Maritime Partners in the fourth quarter worth about $5,027,000. ING Groep NV lifted its stake in shares of Navios Maritime Partners by 123.6% in the third quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after acquiring an additional 53,400 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Navios Maritime Partners by 150.9% in the fourth quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock valued at $4,589,000 after purchasing an additional 52,651 shares during the last quarter. 62.74% of the stock is owned by institutional investors and hedge funds.

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.