Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $83,428.24 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,064 shares of the company’s stock in a transaction on Wednesday, August 5th. The shares were acquired at an average price of $78.41 per share, for a total transaction of $83,428.24. Following the completion of the acquisition, the insider directly owned 4,785,615 shares in the company, valued at $375,240,072.15. The trade was a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, August 7th, Angeliki Frangou bought 1,054 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $78.94 per share, with a total value of $83,202.76.
• On Thursday, August 6th, Angeliki Frangou purchased 1,063 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $79.53 per share, with a total value of $84,540.39.
• On Tuesday, August 4th, Angeliki Frangou purchased 1,041 shares of Navios Maritime Partners stock. The stock was bought at an average price of $78.94 per share, with a total value of $82,176.54.
• On Monday, August 3rd, Angeliki Frangou purchased 653 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $79.91 per share, for a total transaction of $52,181.23.
• On Friday, July 31st, Angeliki Frangou acquired 830 shares of Navios Maritime Partners stock. The shares were bought at an average price of $80.00 per share, for a total transaction of $66,400.00.
• On Thursday, July 30th, Angeliki Frangou acquired 1,068 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $78.37 per share, with a total value of $83,699.16.
• On Wednesday, July 29th, Angeliki Frangou acquired 1,051 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $78.55 per share, with a total value of $82,556.05.
• On Tuesday, July 28th, Angeliki Frangou bought 1,072 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $78.59 per share, with a total value of $84,248.48.
• On Wednesday, July 22nd, Angeliki Frangou bought 1,121 shares of Navios Maritime Partners stock. The stock was bought 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 shares were bought at an average cost of $74.03 per share, for a total transaction of $85,060.47.

Navios Maritime Partners Stock Performance

Shares of NMM stock opened at $79.09 on Monday. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 6.66 and a beta of 1.02. Navios Maritime Partners LP has a one year low of $42.77 and a one year high of $82.84. The company’s 50-day simple moving average is $74.14 and its 200-day simple moving average is $69.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data 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 return on equity of 10.48% and a net margin of 25.05%.The firm had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same period in the previous year, the company 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Navios Maritime Partners’s dividend payout ratio is currently 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of hedge funds have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after buying an additional 202 shares in the last quarter. Valley Wealth Managers Inc. bought a new stake in Navios Maritime Partners during the 1st quarter valued at $63,000. State of Wyoming bought a new stake in Navios Maritime Partners during the 4th quarter valued at $137,000. Corient Private Wealth LLC acquired a new position in Navios Maritime Partners during the 4th quarter worth $207,000. Finally, Mariner LLC acquired a new position in Navios Maritime Partners during the 4th quarter worth $208,000. Institutional investors own 62.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective for the company. 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. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

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.