Angeliki Frangou Acquires 1,170 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,170 shares of the firm’s stock in a transaction that occurred on Thursday, June 25th. The shares were purchased at an average cost of $70.20 per share, for a total transaction of $82,134.00. Following the completion of the transaction, the insider owned 4,755,016 shares of the company’s stock, valued at $333,802,123.20. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.94 per share, with a total value of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.68 per share, for a total transaction of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $71.39 per share, for a total transaction of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The stock was bought at an average price of $73.35 per share, for a total transaction of $82,592.10.
• On Tuesday, June 16th, Angeliki Frangou bought 1,119 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $74.73 per share, with a total value of $82,651.38.
• On Friday, June 12th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.19 per share, with a total value of $84,205.65.
• On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $73.34 per share, with a total value of $84,707.70.
• On Wednesday, June 10th, Angeliki Frangou purchased 1,154 shares of Navios Maritime Partners stock. The shares were bought at an average price of $72.18 per share, for a total transaction of $83,295.72.

Navios Maritime Partners Price Performance

NYSE:NMM traded down $1.47 during mid-day trading on Thursday, reaching $69.72. 79,672 shares of the company were exchanged, compared to its average volume of 106,420. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The stock has a market cap of $2.00 billion, a PE ratio of 5.87 and a beta of 1.01. Navios Maritime Partners LP has a 12 month low of $36.62 and a 12 month high of $80.69. The company has a fifty day moving average of $72.01 and a 200 day moving average of $64.77.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) 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 company had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same period in the prior year, the business earned $1.58 earnings per share. Navios Maritime Partners’s quarterly revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

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

Institutional Trading of Navios Maritime Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in Navios Maritime Partners by 74.1% during the first quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after buying an additional 4,644 shares during the last quarter. Bank of America Corp DE lifted its holdings in Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after purchasing an additional 72,754 shares during the last quarter. Sei Investments Co. bought a new stake in Navios Maritime Partners in the 1st quarter valued at $1,889,000. Walleye Capital LLC boosted its stake in 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 valued at $10,090,000 after purchasing an additional 149,858 shares during the period. Finally, State of Wyoming grew its holdings in Navios Maritime Partners by 77.8% in the 1st quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock valued at $313,000 after buying an additional 2,029 shares in the last quarter. 62.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NMM has been the subject of a number of analyst reports. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Finally, Jefferies Financial Group initiated coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective on the stock. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Navios Maritime Partners has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

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.