Angeliki Frangou Acquires 1,100 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,100 shares of Navios Maritime Partners stock in a transaction on Monday, July 13th. The shares were bought at an average cost of $75.41 per share, for a total transaction of $82,951.00. Following the completion of the purchase, the insider directly owned 4,767,678 shares of the company’s stock, valued at $359,530,597.98. The trade was a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, July 14th, Angeliki Frangou acquired 1,105 shares of Navios Maritime Partners stock. The shares were bought at an average price of $75.58 per share, for a total transaction of $83,515.90.
• On Friday, July 10th, Angeliki Frangou acquired 1,129 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $75.36 per share, with a total value of $85,081.44.
• On Thursday, July 9th, Angeliki Frangou acquired 1,099 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $73.74 per share, with a total value of $81,040.26.
• On Wednesday, July 8th, Angeliki Frangou bought 1,108 shares of Navios Maritime Partners stock. The stock was bought at an average price of $76.14 per share, with a total value of $84,363.12.
• On Tuesday, July 7th, Angeliki Frangou bought 1,113 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $75.12 per share, for a total transaction of $83,608.56.
• On Monday, July 6th, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.48 per share, for a total transaction of $85,577.52.
• On Thursday, July 2nd, Angeliki Frangou purchased 1,173 shares of Navios Maritime Partners stock. The shares were bought at an average price of $73.05 per share, for a total transaction of $85,687.65.
• 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, with a total value of $85,120.51.
• On Friday, June 26th, Angeliki Frangou acquired 1,195 shares of Navios Maritime Partners stock. The shares were purchased 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 purchased at an average price of $69.50 per share, for a total transaction of $83,330.50.

Navios Maritime Partners Trading Up 0.7%

Shares of NMM opened at $75.00 on Thursday. Navios Maritime Partners LP has a twelve month low of $38.77 and a twelve month high of $80.69. The company has a market cap of $2.15 billion, a P/E ratio of 6.32 and a beta of 1.00. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The company’s fifty day simple moving average is $72.61 and its 200-day simple moving average is $66.92.

Navios Maritime Partners (NYSE:NMM) last released 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 last year, the business earned $1.58 EPS. The business’s revenue was up 17.4% on a year-over-year basis.

Navios Maritime Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given 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 dividend on an annualized basis and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is currently 2.02%.

Analysts Set New Price Targets

NMM has been the subject of several recent analyst reports. Jefferies Financial Group started coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 target price for the company. Weiss Ratings lowered 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 upgraded 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Institutional Inflows and Outflows

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

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.