Navios Maritime Partners (NYSE:NMM) Insider Acquires $82,215.57 in Stock
by Scott Moore · The Cerbat GemNavios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou acquired 1,173 shares of the stock in a transaction on Tuesday, April 7th. The shares were bought at an average cost of $70.09 per share, for a total transaction of $82,215.57. Following the purchase, the insider directly owned 4,691,150 shares of the company’s stock, valued at $328,802,703.50. The trade was a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at 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 8th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.40 per share, for a total transaction of $86,251.20.
- On Monday, April 6th, Angeliki Frangou purchased 1,200 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $70.47 per share, for a total transaction of $84,564.00.
- On Thursday, April 2nd, Angeliki Frangou purchased 1,229 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.46 per share, for a total transaction of $85,366.34.
- On Wednesday, April 1st, Angeliki Frangou purchased 1,234 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $68.21 per share, for a total transaction of $84,171.14.
- On Monday, March 23rd, Angeliki Frangou purchased 1,289 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $64.87 per share, for a total transaction of $83,617.43.
- On Friday, March 20th, Angeliki Frangou purchased 1,247 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $66.71 per share, for a total transaction of $83,187.37.
- On Thursday, March 19th, Angeliki Frangou purchased 1,235 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $67.00 per share, for a total transaction of $82,745.00.
Navios Maritime Partners Trading Up 4.6%
Shares of Navios Maritime Partners stock traded up $3.15 during trading hours on Wednesday, hitting $72.12. The company’s stock had a trading volume of 220,881 shares, compared to its average volume of 213,882. Navios Maritime Partners LP has a twelve month low of $28.37 and a twelve month high of $74.21. The firm has a fifty day moving average of $65.46 and a 200-day moving average of $55.96. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 7.50 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12.
Navios Maritime Partners (NYSE:NMM – Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, beating the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The business had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. During the same quarter in the prior year, the company posted $2.61 EPS. The company’s quarterly revenue was up 10.0% on a year-over-year basis. Research analysts forecast that Navios Maritime Partners LP will post 12.64 EPS for the current year.
Navios Maritime Partners Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 9th were paid a $0.05 dividend. This represents a $0.20 annualized dividend 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 2.08%.
Hedge Funds Weigh In On Navios Maritime Partners
Several hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after acquiring an additional 202 shares in the last quarter. Merrion Investment Management Co LLC lifted its stake in Navios Maritime Partners by 0.4% during the 3rd quarter. Merrion Investment Management Co LLC now owns 65,250 shares of the shipping company’s stock worth $2,940,000 after acquiring an additional 250 shares in the last quarter. Raymond James Financial Inc. lifted its stake in Navios Maritime Partners by 5.6% during the 3rd quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after acquiring an additional 380 shares in the last quarter. Moors & Cabot Inc. lifted its stake in Navios Maritime Partners by 0.8% during the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after acquiring an additional 750 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Navios Maritime Partners by 25.4% during 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 in the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.
Analysts Set New Price Targets
NMM has been the topic of several recent analyst reports. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.
Check Out Our Latest Stock Analysis on Navios Maritime Partners
Navios Maritime Partners Company Profile
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.