Navios Maritime Partners (NYSE:NMM) Insider Angeliki Frangou Purchases 1,235 Shares

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou acquired 1,235 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average cost of $67.00 per share, with a total value of $82,745.00. Following the completion of the purchase, the insider owned 4,676,205 shares of the company’s stock, valued at $313,305,735. This trade represents a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, March 23rd, Angeliki Frangou bought 1,289 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $64.87 per share, for a total transaction of $83,617.43.
• On Friday, March 20th, Angeliki Frangou bought 1,247 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $66.71 per share, with a total value of $83,187.37.

Navios Maritime Partners Stock Performance

Shares of NMM stock opened at $65.60 on Tuesday. Navios Maritime Partners LP has a 12-month low of $28.37 and a 12-month high of $74.21. The company has a market cap of $1.88 billion, a PE ratio of 6.83 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $62.81 and its 200-day simple moving average is $54.36.

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

Navios Maritime Partners Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on NMM. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday. 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 equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy”.

Institutional Inflows and Outflows

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