Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Acquires $82,745.00 in Stock

by · The Markets Daily

Navios Maritime Partners LP (NYSE:NMMGet Free Report) insider Angeliki Frangou acquired 1,235 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The shares were purchased at an average cost of $67.00 per share, for a total transaction of $82,745.00. Following the completion of the transaction, the insider directly owned 4,676,205 shares in the company, valued at $313,305,735. The trade was a 0.03% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Monday, March 23rd, Angeliki Frangou acquired 1,289 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $64.87 per share, with a total value 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, for a total transaction of $83,187.37.

Navios Maritime Partners Trading Down 2.6%

NYSE:NMM opened at $66.50 on Thursday. The company’s 50 day moving average price is $63.24 and its 200-day moving average price is $54.59. Navios Maritime Partners LP has a 52 week low of $28.37 and a 52 week high of $74.21. 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 stock has a market cap of $1.91 billion, a price-to-earnings ratio of 6.92 and a beta of 1.31.

Navios Maritime Partners (NYSE:NMMGet Free Report) last announced its quarterly earnings results 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 company had revenue of $365.55 million during the quarter, compared to the consensus estimate of $316.00 million. During the same quarter last year, the firm earned $2.61 earnings per share. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, equities research analysts forecast 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. Shareholders of record on Monday, February 9th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.08%.

Institutional Investors Weigh In On Navios Maritime Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in NMM. Allworth Financial LP purchased a new stake in Navios Maritime Partners in the second quarter worth approximately $47,000. TD Waterhouse Canada Inc. purchased a new stake in Navios Maritime Partners during the 2nd quarter valued at $62,000. JPMorgan Chase & Co. lifted its holdings in shares of Navios Maritime Partners by 64.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock valued at $672,000 after buying an additional 7,006 shares during the period. Aristides Capital LLC purchased a new position in shares of Navios Maritime Partners in the 2nd quarter worth $228,000. Finally, Jump Financial LLC purchased a new position in shares of Navios Maritime Partners in the 2nd quarter worth $580,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NMM shares. Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

Get Our Latest Research Report on Navios Maritime Partners

About Navios Maritime Partners

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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.

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