Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Acquires 1,247 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,247 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was bought at an average cost of $66.71 per share, with a total value of $83,187.37. Following the completion of the acquisition, the insider directly owned 4,677,452 shares of the company’s stock, valued at approximately $312,032,822.92. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, March 23rd, Angeliki Frangou acquired 1,289 shares of Navios Maritime Partners stock. The shares were bought at an average price of $64.87 per share, for a total transaction of $83,617.43.
• On Thursday, March 19th, Angeliki Frangou acquired 1,235 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $67.00 per share, for a total transaction of $82,745.00.

Navios Maritime Partners Price Performance

NMM traded up $0.98 during trading on Monday, reaching $65.60. 256,326 shares of the company were exchanged, compared to its average volume of 169,133. Navios Maritime Partners LP has a 12-month low of $28.37 and a 12-month high of $74.21. The company’s 50-day moving average is $62.61 and its two-hundred day moving average is $54.24. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 6.83 and a beta of 1.31.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The business had revenue of $365.55 million during the quarter, compared to analyst estimates of $316.00 million. During the same quarter in the previous year, the firm earned $2.61 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. Research analysts forecast that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s payout ratio is currently 2.08%.

Institutional Trading of Navios Maritime Partners

A number of large investors have recently modified their holdings of NMM. Allworth Financial LP purchased a new position in shares of Navios Maritime Partners during the second quarter worth about $47,000. TD Waterhouse Canada Inc. purchased a new stake in Navios Maritime Partners in the second quarter valued at approximately $62,000. JPMorgan Chase & Co. raised its stake in Navios Maritime Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock valued at $672,000 after purchasing an additional 7,006 shares in the last quarter. Aristides Capital LLC bought a new stake in Navios Maritime Partners during the second quarter valued at approximately $228,000. Finally, Jump Financial LLC purchased a new position in Navios Maritime Partners in the 2nd quarter worth approximately $580,000. Institutional investors own 62.74% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NMM. Weiss Ratings upgraded shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

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.