Navios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou bought 1,156 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was bought at an average cost of $72.14 per share, with a total value of $83,393.84. Following the acquisition, the insider directly owned 4,737,736 shares of the company’s stock, valued at approximately $341,780,275.04. The trade was a 0.02% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Angeliki Frangou also recently made the following trade(s):
- On Tuesday, June 2nd, Angeliki Frangou bought 1,158 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.25 per share, with a total value of $83,665.50.
- On Monday, June 1st, Angeliki Frangou bought 1,203 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.36 per share, with a total value of $85,846.08.
- On Friday, May 29th, Angeliki Frangou bought 1,196 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $69.57 per share, with a total value of $83,205.72.
- On Thursday, May 28th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $70.65 per share, with a total value of $82,660.50.
- On Wednesday, May 27th, Angeliki Frangou acquired 1,132 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $72.61 per share, with a total value of $82,194.52.
- On Tuesday, May 26th, Angeliki Frangou acquired 1,118 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.63 per share, with a total value of $82,318.34.
- On Friday, May 22nd, Angeliki Frangou acquired 1,116 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $74.30 per share, with a total value of $82,918.80.
- On Thursday, May 21st, Angeliki Frangou acquired 1,107 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $77.81 per share, with a total value of $86,135.67.
- On Wednesday, May 20th, Angeliki Frangou acquired 1,113 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $75.48 per share, with a total value of $84,009.24.
- On Tuesday, May 19th, Angeliki Frangou acquired 1,160 shares of Navios Maritime Partners stock. The stock was purchased at an average cost of $73.24 per share, with a total value of $84,958.40.
Navios Maritime Partners Stock Performance
Navios Maritime Partners stock opened at $71.56 on Friday. The business has a 50 day moving average of $71.04 and a 200-day moving average of $62.90. Navios Maritime Partners LP has a 1 year low of $36.62 and a 1 year 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 company has a market capitalization of $2.05 billion, a P/E ratio of 6.03 and a beta of 1.01.
Navios Maritime Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.06 dividend. 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%. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s payout ratio is currently 2.02%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on NMM. Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 target price for the company. Finally, Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.
Read Our Latest Report on Navios Maritime Partners
Institutional Trading of Navios Maritime Partners
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Navios Maritime Partners by 95.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock valued at $1,572,000 after purchasing an additional 17,040 shares during the period. Arbiter Partners Capital Management LLC bought a new position in shares of Navios Maritime Partners during the 3rd quarter worth approximately $1,117,000. ING Groep NV grew its position in shares of Navios Maritime Partners by 123.6% during the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after buying an additional 53,400 shares during the period. Moors & Cabot Inc. increased its stake in shares of Navios Maritime Partners by 0.8% in the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock valued at $4,175,000 after acquiring an additional 750 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. increased its stake in shares of Navios Maritime Partners by 6.4% in the 3rd quarter. Mraz Amerine & Associates Inc. now owns 43,291 shares of the shipping company’s stock valued at $1,950,000 after acquiring an additional 2,621 shares in the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.
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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