Navios Maritime Partners (NYSE:NMM) Insider Acquires 1,041 Shares of Stock
by Michael Walen · The Markets DailyNavios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou acquired 1,041 shares of the firm’s stock in a transaction dated Tuesday, August 4th. The shares were acquired at an average price of $78.94 per share, with a total value of $82,176.54. Following the acquisition, the insider owned 4,784,551 shares in the company, valued at approximately $377,692,455.94. The trade was a 0.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link.
Angeliki Frangou also recently made the following trade(s):
- On Monday, August 3rd, Angeliki Frangou bought 653 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $79.91 per share, for a total transaction of $52,181.23.
- On Friday, July 31st, Angeliki Frangou purchased 830 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $80.00 per share, with a total value of $66,400.00.
- On Thursday, July 30th, Angeliki Frangou purchased 1,068 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $78.37 per share, with a total value of $83,699.16.
- On Wednesday, July 29th, Angeliki Frangou acquired 1,051 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $78.55 per share, with a total value of $82,556.05.
- On Tuesday, July 28th, Angeliki Frangou bought 1,072 shares of Navios Maritime Partners stock. The stock was bought at an average price of $78.59 per share, with a total value of $84,248.48.
- On Wednesday, July 22nd, Angeliki Frangou purchased 1,121 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.07 per share, for a total transaction of $83,032.47.
- On Tuesday, July 21st, Angeliki Frangou acquired 1,149 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.03 per share, with a total value of $85,060.47.
- On Monday, July 20th, Angeliki Frangou acquired 1,167 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.95 per share, for a total transaction of $85,132.65.
- On Monday, July 27th, Angeliki Frangou bought 1,053 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $77.64 per share, for a total transaction of $81,754.92.
- On Friday, July 24th, Angeliki Frangou bought 1,084 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $79.02 per share, with a total value of $85,657.68.
Navios Maritime Partners Stock Performance
NMM stock traded down $2.66 during midday trading on Tuesday, reaching $78.45. The stock had a trading volume of 133,606 shares, compared to its average volume of 112,944. The firm has a fifty day simple moving average of $73.62 and a two-hundred day simple moving average of $69.20. Navios Maritime Partners LP has a 52-week low of $42.77 and a 52-week high of $82.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a market cap of $2.25 billion, a PE ratio of 6.61 and a beta of 1.02.
Navios Maritime Partners (NYSE:NMM – Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same period in the prior year, the company earned $1.58 earnings per share. The company’s revenue was up 17.4% on a year-over-year basis.
Navios Maritime Partners Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Monday, August 10th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, August 10th. Navios Maritime Partners’s dividend payout ratio is 2.02%.
Analyst Upgrades and Downgrades
Several analysts have recently commented on NMM shares. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 target price for the company. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.
Check Out Our Latest Analysis on NMM
Institutional Trading of Navios Maritime Partners
Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Navios Maritime Partners by 64.6% in the second 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 in the last quarter. Jump Financial LLC acquired a new stake in shares of Navios Maritime Partners during the 2nd quarter valued at about $580,000. Cerity Partners LLC acquired a new stake in shares of Navios Maritime Partners during the 2nd quarter valued at about $212,000. BNP Paribas Financial Markets increased its stake in shares of 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 valued at $290,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Ion Asset Management Ltd. increased its stake in shares of 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 valued at $30,821,000 after purchasing an additional 17,285 shares in the last quarter. 62.74% of the stock is owned by hedge funds and other 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.
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