Navios Maritime Partners (NYSE:NMM) Insider Purchases $85,366.34 in Stock

Navios Maritime Partners LP (NYSE:NMM) insider Angeliki Frangou purchased 1,229 shares of Navios Maritime Partners stock in a transaction that occurred on Thursday, April 2nd. The shares were bought at an average cost of $69.46 per share, with a total value of $85,366.34. Following the completion of the transaction, the insider directly owned 4,688,777 shares of the company’s stock, valued at approximately $325,682,450.42. The trade was a 0.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 1st, Angeliki Frangou purchased 1,234 shares of Navios Maritime Partners stock. The stock was bought at an average price of $68.21 per share, with a total value of $84,171.14.
• On Monday, March 23rd, Angeliki Frangou purchased 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 acquired 1,247 shares of Navios Maritime Partners stock. The shares were bought at an average price of $66.71 per share, for a total transaction of $83,187.37.
• On Thursday, March 19th, Angeliki Frangou acquired 1,235 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $67.00 per share, with a total value of $82,745.00.

Navios Maritime Partners Price Performance

NYSE:NMM opened at $69.58 on Monday. Navios Maritime Partners LP has a 1-year low of $28.37 and a 1-year high of $74.21. 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 firm has a fifty day simple moving average of $64.75 and a 200 day simple moving average of $55.55. The stock has a market capitalization of $1.99 billion, a PE ratio of 7.24 and a beta of 1.23.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.41 by $0.99. The firm had revenue of $365.55 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.61 earnings per share. On average, research analysts expect that Navios Maritime Partners LP will post 12.64 EPS for the current fiscal year.

Navios Maritime Partners Dividend Announcement

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

Hedge Funds Weigh In On Navios Maritime Partners

Several large investors have recently modified their holdings of NMM. Arbiter Partners Capital Management LLC bought a new stake in shares of Navios Maritime Partners during the 3rd quarter worth about $1,117,000. ING Groep NV raised its holdings in Navios Maritime Partners by 123.6% in the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after acquiring an additional 53,400 shares during the period. Blackhawk Capital Partners LLC acquired a new stake in Navios Maritime Partners during the third quarter worth approximately $247,000. Live Oak Investment Partners boosted its holdings in shares of Navios Maritime Partners by 5.9% during the third quarter. Live Oak Investment Partners now owns 30,217 shares of the shipping company’s stock worth $1,361,000 after acquiring an additional 1,680 shares during the period. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Navios Maritime Partners by 1.3% during the third quarter. Commonwealth Equity Services LLC now owns 158,749 shares of the shipping company’s stock worth $7,152,000 after acquiring an additional 2,045 shares during the period. 62.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. 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 raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

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.