Insider Buying: Navios Maritime Partners (NYSE:NMM) Insider Buys $84,705.75 in Stock

by · The Markets Daily

Navios Maritime Partners LP (NYSE:NMMGet Free Report) insider Angeliki Frangou bought 1,175 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were purchased at an average cost of $72.09 per share, with a total value of $84,705.75. Following the transaction, the insider owned 4,742,406 shares in the company, valued at approximately $341,880,048.54. The trade was a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Thursday, June 11th, Angeliki Frangou bought 1,155 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $73.34 per share, for a total transaction of $84,707.70.
  • On Wednesday, June 10th, Angeliki Frangou bought 1,154 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.18 per share, for a total transaction of $83,295.72.
  • On Monday, June 8th, Angeliki Frangou bought 1,162 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.02 per share, for a total transaction of $82,525.24.
  • On Friday, June 5th, Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.66 per share, for a total transaction of $83,627.22.
  • On Thursday, June 4th, Angeliki Frangou bought 1,166 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.77 per share, for a total transaction of $83,683.82.
  • On Wednesday, June 3rd, Angeliki Frangou bought 1,156 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.14 per share, for a total transaction of $83,393.84.
  • On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $72.25 per share, for a total transaction of $83,665.50.
  • On Monday, June 1st, Angeliki Frangou bought 1,203 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.36 per share, for a total transaction of $85,846.08.
  • On Friday, May 29th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $69.57 per share, for a total transaction of $83,205.72.
  • On Thursday, May 28th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $70.65 per share, for a total transaction of $82,660.50.

Navios Maritime Partners Trading Up 2.3%

Shares of NMM stock opened at $75.05 on Friday. Navios Maritime Partners LP has a 1 year low of $36.62 and a 1 year high of $80.69. The firm’s fifty day simple moving average is $71.68 and its 200 day simple moving average is $63.59. The firm has a market capitalization of $2.15 billion, a P/E ratio of 6.32 and a beta of 1.01. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMMGet Free Report) last announced its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. During the same quarter in the previous year, the firm posted $1.58 earnings per share. 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 announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s payout ratio is presently 2.02%.

Institutional Investors Weigh In On Navios Maritime Partners

Several institutional investors and hedge funds have recently made changes to their positions in NMM. ION Fund Management Ltd acquired a new stake in shares of Navios Maritime Partners in the 4th quarter valued at $24,432,000. Walleye Capital LLC boosted its stake in shares of Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after purchasing an additional 149,858 shares in the last quarter. Marnell Management LLC acquired a new stake in shares of Navios Maritime Partners in the 4th quarter valued at $5,027,000. Bank of America Corp DE raised its holdings in shares of Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after buying an additional 72,754 shares during the last quarter. Finally, ING Groep NV raised its holdings in shares of Navios Maritime Partners by 123.6% in the third quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after buying an additional 53,400 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Wall Street Analyst Weigh In

NMM has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group initiated coverage on shares of 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. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

View Our Latest Report on NMM

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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