Angeliki Frangou Acquires 1,107 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,107 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were acquired at an average price of $77.81 per share, for a total transaction of $86,135.67. Following the transaction, the insider directly owned 4,728,487 shares in the company, valued at approximately $367,923,573.47. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, May 26th, Angeliki Frangou bought 1,118 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.63 per share, for a total transaction of $82,318.34.
• On Friday, May 22nd, Angeliki Frangou bought 1,116 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.30 per share, for a total transaction of $82,918.80.
• On Wednesday, May 20th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $75.48 per share, for a total transaction of $84,009.24.
• On Tuesday, May 19th, Angeliki Frangou bought 1,160 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.24 per share, for a total transaction of $84,958.40.
• On Monday, May 18th, Angeliki Frangou bought 1,163 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.85 per share, for a total transaction of $83,561.55.
• On Friday, May 15th, Angeliki Frangou bought 1,172 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.93 per share, for a total transaction of $83,129.96.
• On Thursday, May 14th, Angeliki Frangou bought 1,169 shares of Navios Maritime Partners stock. The shares were acquired 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 shares were acquired at an average price of $72.69 per share, for a total transaction of $82,430.46.
• On Tuesday, May 12th, Angeliki Frangou bought 1,138 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.99 per share, for a total transaction of $83,062.62.
• On Monday, May 11th, Angeliki Frangou acquired 1,111 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $73.85 per share, for a total transaction of $82,047.35.

Navios Maritime Partners Price Performance

NMM stock traded down $1.04 during midday trading on Tuesday, reaching $73.48. The stock had a trading volume of 113,843 shares, compared to its average volume of 153,271. The company’s fifty day simple moving average is $70.21 and its 200 day simple moving average is $61.84. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 6.19 and a beta of 1.06. Navios Maritime Partners LP has a 52-week low of $36.62 and a 52-week high of $80.69.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. The company had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a return on equity of 10.62% and a net margin of 25.05%.The firm’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NMM. 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 objective on the stock. Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Finally, Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Two 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 an average price target of $85.00.

Institutional Trading of Navios Maritime Partners

A number of hedge funds and other institutional investors have recently modified their holdings of NMM. ION Fund Management Ltd acquired a new stake in shares of Navios Maritime Partners in the 4th quarter worth $24,432,000. Walleye Capital LLC increased its stake in shares of Navios Maritime Partners by 45,274.3% in the 1st 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 stake in shares of Navios Maritime Partners in the 4th quarter worth $5,027,000. Bank of America Corp DE increased its stake in shares of Navios Maritime Partners by 57.6% in the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after acquiring an additional 72,754 shares during the last quarter. Finally, ING Groep NV increased 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. 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.