Angeliki Frangou Acquires 1,208 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,208 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was acquired at an average price of $68.88 per share, for a total transaction of $83,207.04. Following the acquisition, the insider directly owned 4,757,419 shares in the company, valued at $327,691,020.72. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Tuesday, June 30th, Angeliki Frangou purchased 1,199 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.50 per share, for a total transaction of $83,330.50.
• On Thursday, June 25th, Angeliki Frangou purchased 1,170 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.20 per share, with a total value of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.94 per share, with a total value of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.68 per share, with a total value of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.39 per share, with a total value of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou bought 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 bought 1,126 shares of Navios Maritime Partners stock. The shares were bought at an average cost 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 shares were bought at an average cost of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou purchased 1,106 shares of Navios Maritime Partners stock. The shares were bought at an average price 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 stock was bought at an average cost of $74.19 per share, with a total value of $84,205.65.

Navios Maritime Partners Stock Up 1.1%

NYSE:NMM traded up $0.76 during trading hours on Tuesday, hitting $70.26. 95,554 shares of the company traded hands, compared to its average volume of 101,852. 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 firm’s 50-day simple moving average is $72.00 and its 200-day simple moving average is $65.11. Navios Maritime Partners LP has a one year low of $36.88 and a one year high of $80.69. The company has a market cap of $2.01 billion, a PE ratio of 5.92 and a beta of 1.01.

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

Navios Maritime Partners Increases Dividend

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

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMM. Royal Bank of Canada raised its position in shares of Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 202 shares during the period. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners in the 1st quarter worth approximately $63,000. State of Wyoming purchased a new position in Navios Maritime Partners in the 4th quarter valued at approximately $137,000. Corient Private Wealth LLC purchased a new position in Navios Maritime Partners in the 4th quarter valued at approximately $207,000. Finally, Mariner LLC bought a new stake in Navios Maritime Partners during the 4th quarter valued at $208,000. Institutional investors own 62.74% of the company’s stock.

Analyst Ratings Changes

NMM has been the subject of a number of recent analyst reports. Jefferies Financial Group assumed coverage on shares of 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. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.