Angeliki Frangou Acquires 1,170 Shares of Navios Maritime Partners (NYSE:NMM) Stock

Key Points

• Angeliki Frangou, a Navios Maritime Partners insider, bought 1,170 shares on June 25 at an average price of $70.20, bringing her direct ownership to 4.76 million shares.
• The purchase is part of a steady string of insider buys by Frangou over the prior two weeks, suggesting continued confidence in the company.
• Navios Maritime Partners recently reported better-than-expected quarterly results and raised its dividend to $0.06 per share, while analysts currently rate the stock a Moderate Buy with a $85 average price target.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) insider Angeliki Frangou purchased 1,170 shares of the stock in a transaction dated Thursday, June 25th. The stock was purchased at an average price of $70.20 per share, with a total value of $82,134.00. Following the completion of the acquisition, the insider directly owned 4,755,016 shares in the company, valued at approximately $333,802,123.20. The trade was a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The shares were acquired at an average cost 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 stock was 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 shares were bought at an average price of $71.39 per share, for a total transaction of $84,739.93.
• On Thursday, June 18th, Angeliki Frangou bought 1,151 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.10 per share, for a total transaction of $81,836.10.
• On Wednesday, June 17th, Angeliki Frangou acquired 1,126 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.35 per share, for a total transaction 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 cost of $73.63 per share, for a total transaction of $82,391.97.
• On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $74.73 per share, for a total transaction of $82,651.38.
• On Friday, June 12th, Angeliki Frangou purchased 1,135 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $74.19 per share, with a total value of $84,205.65.
• 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 purchased at an average cost of $72.18 per share, for a total transaction of $83,295.72.

Navios Maritime Partners Price Performance

Shares of Navios Maritime Partners stock traded down $1.47 during trading on Thursday, hitting $69.72. The stock had a trading volume of 79,672 shares, compared to its average volume of 106,420. Navios Maritime Partners LP has a fifty-two week low of $36.62 and a fifty-two week high of $80.69. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $2.00 billion, a P/E ratio of 5.87 and a beta of 1.01. The business has a fifty day moving average of $72.01 and a two-hundred day moving average of $64.77.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings data 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 business had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The company's revenue was up 17.4% compared to the same quarter last year. During the same period last year, the company posted $1.58 EPS.

Navios Maritime Partners Increases Dividend

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

Hedge Funds Weigh In On Navios Maritime Partners

Several large investors have recently made changes to their positions in NMM. Ion Asset Management Ltd. boosted its stake in Navios Maritime Partners by 2.2% during 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 during the period. ION Fund Management Ltd acquired a new stake in shares of Navios Maritime Partners in the fourth quarter worth $24,432,000. Bank of America Corp DE increased its position in Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock worth $13,438,000 after acquiring an additional 72,754 shares during the period. Walleye Capital LLC increased its position in Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock worth $10,090,000 after acquiring an additional 149,858 shares during the period. Finally, ING Groep NV boosted its holdings in Navios Maritime Partners by 51.7% in the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock valued at $7,681,000 after purchasing an additional 49,900 shares during the period. Institutional investors and hedge funds own 62.74% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Weiss Ratings lowered Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, May 28th. Jefferies Financial Group assumed coverage on Navios Maritime Partners in a research report on Friday, April 24th. They set a "buy" rating and a $85.00 price objective for the company. Finally, 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. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Navios Maritime Partners has a consensus rating of "Moderate Buy" and an average target price of $85.00.

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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