Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases $52,181.23 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 653 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was acquired at an average cost of $79.91 per share, with a total value of $52,181.23. Following the completion of the acquisition, the insider owned 4,783,510 shares of the company’s stock, valued at $382,250,284.10. This represents a 0.01% increase in their position. 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 Tuesday, August 4th, Angeliki Frangou purchased 1,041 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $78.94 per share, for a total transaction of $82,176.54.
• On Friday, July 31st, Angeliki Frangou acquired 830 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $80.00 per share, with a total value of $66,400.00.
• On Thursday, July 30th, Angeliki Frangou acquired 1,068 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $78.37 per share, with a total value of $83,699.16.
• On Wednesday, July 29th, Angeliki Frangou bought 1,051 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $78.55 per share, for a total transaction of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou bought 1,072 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $78.59 per share, for a total transaction of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou bought 1,121 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $74.07 per share, for a total transaction of $83,032.47.
• On Tuesday, July 21st, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.03 per share, with a total value of $85,060.47.
• On Monday, July 20th, Angeliki Frangou purchased 1,167 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $72.95 per share, with a total value of $85,132.65.
• On Monday, July 27th, Angeliki Frangou purchased 1,053 shares of Navios Maritime Partners stock. The stock was bought at an average price of $77.64 per share, with a total value of $81,754.92.
• On Friday, July 24th, Angeliki Frangou acquired 1,084 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $79.02 per share, for a total transaction of $85,657.68.

Navios Maritime Partners Trading Up 0.9%

Shares of NYSE NMM opened at $79.05 on Friday. Navios Maritime Partners LP has a 1-year low of $42.77 and a 1-year high of $82.84. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The business’s 50 day moving average is $73.94 and its two-hundred day moving average is $69.51. The stock has a market capitalization of $2.27 billion, a P/E ratio of 6.66 and a beta of 1.02.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same period last year, the company earned $1.58 EPS.

Navios Maritime Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Navios Maritime Partners’s dividend payout ratio (DPR) is 2.02%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Jefferies Financial Group started coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds have recently made changes to their positions in NMM. Royal Bank of Canada increased its stake in shares of Navios Maritime Partners by 50.9% during the fourth 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 during the period. Valley Wealth Managers Inc. purchased a new stake in Navios Maritime Partners in the first quarter worth about $63,000. State of Wyoming bought a new position in Navios Maritime Partners during the 4th quarter worth about $137,000. Corient Private Wealth LLC purchased a new position in Navios Maritime Partners during the 4th quarter valued at about $207,000. Finally, Mariner LLC purchased a new position in Navios Maritime Partners during the 4th quarter valued at about $208,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

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.