Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Purchases 1,173 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,173 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were acquired at an average cost of $73.05 per share, for a total transaction of $85,687.65. Following the completion of the acquisition, the insider owned 4,760,980 shares of the company’s stock, valued at $347,789,589. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, July 6th, Angeliki Frangou bought 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.48 per share, for a total transaction of $85,577.52.
• On Wednesday, July 1st, Angeliki Frangou purchased 1,189 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.59 per share, for a total transaction of $85,120.51.
• On Friday, June 26th, Angeliki Frangou purchased 1,195 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.22 per share, with a total value of $82,717.90.
• On Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The shares were bought at an average price of $69.50 per share, with a total value of $83,330.50.
• On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $68.88 per share, for a total transaction of $83,207.04.
• On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The stock was bought at an average price of $70.20 per share, for a total transaction of $82,134.00.
• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.94 per share, for a total transaction of $82,587.12.
• On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $72.68 per share, with a total value of $84,236.12.
• On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The stock was purchased at an average price 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 purchased at an average cost of $71.10 per share, for a total transaction of $81,836.10.

Navios Maritime Partners Stock Up 0.6%

Shares of Navios Maritime Partners stock opened at $75.27 on Tuesday. 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 company has a market cap of $2.16 billion, a P/E ratio of 6.38 and a beta of 1.00. The firm’s 50 day moving average price is $72.26 and its 200-day moving average price is $65.72. Navios Maritime Partners LP has a 52-week low of $37.42 and a 52-week high of $80.69.

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

Navios Maritime Partners Increases Dividend

The firm also recently announced 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. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, May 11th. This represents a $0.24 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC raised its position in Navios Maritime Partners by 74.1% during the 1st 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 raised its holdings in shares of Navios Maritime Partners by 57.6% during the first 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. acquired a new position in Navios Maritime Partners during the first quarter valued at $1,889,000. Walleye Capital LLC lifted its position in 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 valued at $10,090,000 after purchasing an additional 149,858 shares during the period. Finally, State of Wyoming boosted its holdings in Navios Maritime Partners by 77.8% in the first quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock valued at $313,000 after purchasing an additional 2,029 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in 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 shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. Finally, Weiss Ratings cut shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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.