Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Purchases $82,717.90 in Stock

by · The Markets Daily

Navios Maritime Partners LP (NYSE:NMMGet Free Report) insider Angeliki Frangou purchased 1,195 shares of Navios Maritime Partners stock in a transaction dated Friday, June 26th. The shares were acquired at an average cost of $69.22 per share, for a total transaction of $82,717.90. Following the completion of the transaction, the insider owned 4,756,211 shares of the company’s stock, valued at approximately $329,224,925.42. This represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

  • On Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $69.50 per share, with a total value of $83,330.50.
  • On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $68.88 per share, with a total value of $83,207.04.
  • On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $70.20 per share, for a total transaction of $82,134.00.
  • On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $71.94 per share, for a total transaction of $82,587.12.
  • On Tuesday, June 23rd, Angeliki Frangou bought 1,159 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $72.68 per share, for a total transaction of $84,236.12.
  • On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.39 per share, with a total value of $84,739.93.
  • On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.10 per share, with a total value of $81,836.10.
  • On Wednesday, June 17th, Angeliki Frangou purchased 1,126 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $73.35 per share, with a total value of $82,592.10.
  • On Tuesday, June 16th, Angeliki Frangou purchased 1,119 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.63 per share, for a total transaction of $82,391.97.
  • On Monday, June 15th, Angeliki Frangou acquired 1,106 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.73 per share, for a total transaction of $82,651.38.

Navios Maritime Partners Stock Performance

Shares of Navios Maritime Partners stock opened at $72.56 on Friday. The firm has a market capitalization of $2.08 billion, a P/E ratio of 6.11 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average price of $72.10 and a 200 day moving average price of $65.40. Navios Maritime Partners LP has a 52 week low of $37.42 and a 52 week high of $80.69.

Navios Maritime Partners (NYSE:NMMGet Free Report) last released its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.58. The company had revenue of $357.01 million for the quarter, compared to the consensus estimate of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. During the same quarter in the previous year, the firm earned $1.58 EPS. Navios Maritime Partners’s revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, May 11th. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is presently 2.02%.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Navios Maritime Partners by 64.6% in 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. Jump Financial LLC acquired a new stake in Navios Maritime Partners during the second quarter worth about $580,000. Cerity Partners LLC purchased a new position in Navios Maritime Partners during the second quarter valued at approximately $212,000. BNP Paribas Financial Markets raised its position in Navios Maritime Partners by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock valued at $290,000 after acquiring an additional 1,559 shares in the last quarter. Finally, Ion Asset Management Ltd. lifted its holdings in Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after acquiring an additional 17,285 shares during the period. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NMM shares. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Weiss Ratings lowered Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

View Our Latest Research Report on Navios Maritime Partners

About Navios Maritime Partners

(Get Free Report)

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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