Navios Maritime Partners (NYSE:NMM) Insider Acquires $83,617.43 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,289 shares of the business’s stock in a transaction that occurred on Monday, March 23rd. The shares were bought at an average cost of $64.87 per share, for a total transaction of $83,617.43. Following the completion of the purchase, the insider owned 4,678,741 shares of the company’s stock, valued at $303,509,928.67. This represents a 0.03% 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, March 20th, Angeliki Frangou purchased 1,247 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $66.71 per share, with a total value of $83,187.37.
• On Thursday, March 19th, Angeliki Frangou acquired 1,235 shares of Navios Maritime Partners stock. The shares were bought at an average price of $67.00 per share, for a total transaction of $82,745.00.

Navios Maritime Partners Price Performance

NMM stock opened at $66.50 on Thursday. The stock has a market capitalization of $1.91 billion, a PE ratio of 6.92 and a beta of 1.31. The company’s 50-day moving average is $63.24 and its 200-day moving average is $54.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. Navios Maritime Partners LP has a 1 year low of $28.37 and a 1 year high of $74.21.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, beating the consensus estimate 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 company had revenue of $365.55 million during the quarter, compared to the consensus estimate of $316.00 million. During the same period last year, the business posted $2.61 EPS. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. Equities research analysts expect that Navios Maritime Partners LP will post 12.64 EPS for the current fiscal year.

Navios Maritime Partners Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NMM. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. 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. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy”.

Institutional Investors Weigh In On Navios Maritime Partners

A number of institutional investors have recently added to or reduced their stakes in NMM. Allworth Financial LP purchased a new stake in Navios Maritime Partners in the 2nd quarter valued at about $47,000. TD Waterhouse Canada Inc. purchased a new position in shares of Navios Maritime Partners in the 2nd quarter worth approximately $62,000. JPMorgan Chase & Co. grew its holdings in shares of 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 acquiring an additional 7,006 shares in the last quarter. Aristides Capital LLC purchased a new stake in shares of Navios Maritime Partners during the second quarter valued at approximately $228,000. Finally, Jump Financial LLC purchased a new stake in shares of Navios Maritime Partners during the second quarter valued at approximately $580,000. 62.74% of the stock is owned by 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.