Navios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou acquired 1,148 shares of the company’s stock in a transaction that occurred on Wednesday, June 24th. The stock was bought at an average price of $71.94 per share, with a total value of $82,587.12. Following the transaction, the insider directly owned 4,753,846 shares in the company, valued at $341,991,681.24. 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 can be accessed through the SEC website.
Angeliki Frangou also recently made the following trade(s):
- On Thursday, June 25th, Angeliki Frangou acquired 1,170 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $70.20 per share, for a total transaction of $82,134.00.
- On Tuesday, June 23rd, Angeliki Frangou acquired 1,159 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $72.68 per share, for a total transaction of $84,236.12.
- On Monday, June 22nd, Angeliki Frangou bought 1,187 shares of Navios Maritime Partners stock. The shares were purchased at an average price of $71.39 per share, with a total value of $84,739.93.
- On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The shares were purchased 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 price of $73.35 per share, with a total value of $82,592.10.
- On Tuesday, June 16th, Angeliki Frangou acquired 1,119 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $73.63 per share, with a total value of $82,391.97.
- On Monday, June 15th, Angeliki Frangou bought 1,106 shares of Navios Maritime Partners stock. The stock was 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 shares were acquired at an average price of $74.19 per share, with a total value of $84,205.65.
- On Thursday, June 11th, Angeliki Frangou acquired 1,155 shares of Navios Maritime Partners stock. The stock was acquired at an average price 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 acquired at an average cost of $72.18 per share, with a total value of $83,295.72.
Navios Maritime Partners Stock Performance
Shares of Navios Maritime Partners stock opened at $69.07 on Friday. The firm has a fifty day moving average of $72.00 and a two-hundred day moving average of $64.80. 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 capitalization of $1.98 billion, a price-to-earnings ratio of 5.82 and a beta of 1.01. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $80.69.
Navios Maritime Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s payout ratio is 2.02%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. Weiss Ratings cut shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Finally, Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 target price for the company. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Navios Maritime Partners presently has an average rating of “Moderate Buy” and an average price target of $85.00.
Get Our Latest Stock Report on Navios Maritime Partners
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of NMM. JPMorgan Chase & Co. boosted its holdings in shares of 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 during the period. Jump Financial LLC bought a new position in Navios Maritime Partners during the 2nd quarter worth about $580,000. Cerity Partners LLC acquired a new stake in shares of Navios Maritime Partners in the 2nd quarter valued at about $212,000. BNP Paribas Financial Markets lifted its holdings in shares of Navios Maritime Partners by 25.4% in the second 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. raised its position in 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 buying an additional 17,285 shares during the last quarter. Institutional investors 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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