Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys $84,470.12 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,214 shares of the firm’s stock in a transaction dated Wednesday, April 22nd. The stock was purchased at an average cost of $69.58 per share, for a total transaction of $84,470.12. Following the acquisition, the insider owned 4,704,292 shares of the company’s stock, valued at approximately $327,324,637.36. This trade represents a 0.03% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, April 24th, Angeliki Frangou purchased 1,196 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $70.39 per share, for a total transaction 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 price of $70.22 per share, for a total transaction of $83,351.14.
• On Monday, April 20th, Angeliki Frangou acquired 1,190 shares of Navios Maritime Partners stock. The shares were bought at an average price of $70.30 per share, for a total transaction 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 price of $70.39 per share, for a total transaction 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 price of $70.39 per share, for a total transaction 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 price of $69.71 per share, for a total transaction 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 price of $70.23 per share, for a total transaction 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 price of $70.24 per share, for a total transaction 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 price of $68.94 per share, for a total transaction 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 price of $70.78 per share, for a total transaction of $81,750.90.

Navios Maritime Partners Stock Performance

Navios Maritime Partners stock opened at $70.38 on Monday. The firm’s fifty day moving average price is $67.64 and its 200-day moving average price is $58.02. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. The stock has a market cap of $2.02 billion, a P/E ratio of 7.32 and a beta of 1.23. Navios Maritime Partners LP has a fifty-two week low of $33.20 and a fifty-two week high of $74.21.

Navios Maritime Partners (NYSE:NMM) last posted 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. The firm had revenue of $365.55 million for the quarter, compared to analysts’ expectations of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the company posted $2.61 EPS.

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 issued 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 dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.08%.

Analyst Upgrades and Downgrades

NMM has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a report on Friday. They set a “buy” rating and a $85.00 target price on the stock. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Finally, Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Navios Maritime Partners has a consensus rating of “Buy” and an average price target of $85.00.

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently added to or reduced their stakes in NMM. JPMorgan Chase & Co. grew its holdings in Navios Maritime Partners by 64.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock worth $672,000 after acquiring an additional 7,006 shares during the last quarter. Jump Financial LLC bought a new stake in Navios Maritime Partners in the 2nd quarter worth $580,000. Cerity Partners LLC bought a new stake in Navios Maritime Partners in the 2nd quarter worth $212,000. BNP Paribas Financial Markets grew its holdings in Navios Maritime Partners by 25.4% in the 2nd quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after acquiring an additional 1,559 shares during the last quarter. Finally, Ion Asset Management Ltd. grew its holdings in Navios Maritime Partners by 2.2% in the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after acquiring an additional 17,285 shares during the last quarter. 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.