Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $84,186.44 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou bought 1,196 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was purchased at an average cost of $70.39 per share, with a total value of $84,186.44. Following the completion of the acquisition, the insider directly owned 4,706,675 shares of the company’s stock, valued at approximately $331,302,853.25. The trade was a 0.03% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Thursday, April 23rd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The stock was purchased 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.
• On Tuesday, April 14th, Angeliki Frangou acquired 1,192 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.39 per share, with a total value of $83,904.88.
• On Thursday, April 16th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $69.71 per share, with a total value of $83,582.29.
• On Wednesday, April 15th, Angeliki Frangou acquired 1,201 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.23 per share, with a total value of $84,346.23.
• On Monday, April 13th, Angeliki Frangou acquired 1,204 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.24 per share, with a total value of $84,568.96.
• On Friday, April 10th, Angeliki Frangou acquired 1,188 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $68.94 per share, with a total value of $81,900.72.
• On Thursday, April 9th, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.78 per share, with a total value of $81,750.90.

Navios Maritime Partners Stock Up 0.1%

NMM opened at $70.38 on Monday. 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 firm has a 50 day moving average price of $67.64 and a 200-day moving average price of $58.02. Navios Maritime Partners LP has a twelve month low of $33.20 and a twelve month high of $74.21. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 7.32 and a beta of 1.23.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating the consensus estimate 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 company earned $2.61 earnings per share. The firm’s quarterly revenue was up 10.0% on a year-over-year basis.

Navios Maritime Partners Dividend Announcement

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

Analyst Ratings Changes

Several analysts recently issued reports on NMM shares. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research report on Friday. They set a “buy” rating and a $85.00 target price for the company. Finally, Weiss Ratings upgraded shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $85.00.

Institutional Trading of Navios Maritime Partners

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its position in Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after buying an additional 202 shares during the period. State of Wyoming bought a new position in shares of Navios Maritime Partners in the fourth quarter worth approximately $137,000. Corient Private Wealth LLC bought a new position in shares of Navios Maritime Partners in the fourth quarter worth approximately $207,000. Mariner LLC bought a new position in shares of Navios Maritime Partners in the fourth quarter worth approximately $208,000. Finally, Blackhawk Capital Partners LLC bought a new position in shares of Navios Maritime Partners in the third quarter worth approximately $247,000. 62.74% of the stock is currently 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.