Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys $83,864.06 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,169 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were purchased at an average price of $71.74 per share, for a total transaction of $83,864.06. Following the completion of the acquisition, the insider owned 4,713,664 shares of the company’s stock, valued at $338,158,255.36. The trade was a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Friday, May 1st, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.08 per share, for a total transaction of $82,097.40.
• On Thursday, April 30th, Angeliki Frangou acquired 1,176 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.03 per share, with a total value of $84,707.28.
• On Wednesday, April 29th, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.72 per share, with a total value of $83,123.48.
• On Tuesday, April 28th, Angeliki Frangou acquired 1,145 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.08 per share, with a total value of $82,531.60.
• On Monday, April 27th, Angeliki Frangou acquired 1,185 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.44 per share, with a total value of $84,656.40.
• On Friday, April 24th, Angeliki Frangou acquired 1,196 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.39 per share, with a total value of $84,186.44.
• On Thursday, April 23rd, Angeliki Frangou acquired 1,187 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.22 per share, with a total value of $83,351.14.
• On Wednesday, April 22nd, Angeliki Frangou acquired 1,214 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $69.58 per share, with a total value of $84,470.12.
• On Monday, April 20th, Angeliki Frangou acquired 1,190 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.30 per share, with a total value of $83,657.00.
• On Friday, April 17th, Angeliki Frangou acquired 1,201 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.39 per share, with a total value of $84,538.39.

Navios Maritime Partners Trading Down 4.2%

NMM stock opened at $73.47 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. The company has a fifty day moving average price of $68.55 and a two-hundred day moving average price of $59.24. Navios Maritime Partners LP has a one year low of $35.05 and a one year high of $77.90. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 7.65 and a beta of 1.06.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The firm had revenue of $365.55 million during the quarter, compared to analysts’ expectations of $316.00 million. During the same period in the previous year, the business posted $2.61 earnings per share. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 14th. Shareholders of record on Monday, May 11th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Monday, May 11th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.08%.

Analyst Ratings Changes

A number of research firms have commented on NMM. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Finally, Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price for the company. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its position in shares of Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 202 shares during the period. Valley Wealth Managers Inc. bought a new stake in shares of Navios Maritime Partners in the first quarter valued at about $63,000. State of Wyoming bought a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $137,000. Corient Private Wealth LLC bought a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $207,000. Finally, Mariner LLC bought a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $208,000. 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.