Navios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou purchased 1,173 shares of Navios Maritime Partners stock in a transaction on Thursday, July 2nd. The stock was bought at an average cost of $73.05 per share, with a total value of $85,687.65. Following the completion of the acquisition, the insider owned 4,760,980 shares in the company, valued at approximately $347,789,589. This trade represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.
Angeliki Frangou also recently made the following trade(s):
- On Monday, July 6th, Angeliki Frangou purchased 1,149 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.48 per share, for a total transaction of $85,577.52.
- On Wednesday, July 1st, Angeliki Frangou acquired 1,189 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.59 per share, with a total value of $85,120.51.
- On Friday, June 26th, Angeliki Frangou acquired 1,195 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $69.22 per share, with a total value of $82,717.90.
- On Tuesday, June 30th, Angeliki Frangou bought 1,199 shares of Navios Maritime Partners stock. The shares were purchased at an average cost of $69.50 per share, for a total transaction of $83,330.50.
- On Monday, June 29th, Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $68.88 per share, with a total value of $83,207.04.
- 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 Wednesday, June 24th, Angeliki Frangou acquired 1,148 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.94 per share, with a total value of $82,587.12.
- On Tuesday, June 23rd, Angeliki Frangou purchased 1,159 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.68 per share, with a total value of $84,236.12.
- On Monday, June 22nd, Angeliki Frangou purchased 1,187 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $71.39 per share, for a total transaction of $84,739.93.
- On Thursday, June 18th, Angeliki Frangou purchased 1,151 shares of Navios Maritime Partners stock. The stock was purchased at an average price of $71.10 per share, for a total transaction of $81,836.10.
Navios Maritime Partners Trading Up 0.7%
Shares of NMM opened at $75.70 on Thursday. The stock has a fifty day moving average price of $72.41 and a two-hundred day moving average price of $66.08. 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 company has a market cap of $2.17 billion, a price-to-earnings ratio of 6.38 and a beta of 1.00. Navios Maritime Partners LP has a 52-week low of $37.42 and a 52-week high of $80.69.
Navios Maritime Partners Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. This is a boost 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 currently 2.02%.
Navios Maritime Partners News Summary
Here are the key news stories impacting Navios Maritime Partners this week:
- Positive Sentiment: CEO Angeliki Frangou has been buying shares repeatedly over the past several sessions, signaling confidence in Navios Maritime Partners’ prospects and supporting investor sentiment. Article Title
- Positive Sentiment: The company recently reported strong quarterly results, with EPS and revenue both beating analyst expectations, which continues to underpin the stock’s higher trading range.
- Positive Sentiment: Navios Maritime Partners also raised its quarterly dividend, reinforcing the appeal of the stock for income-focused investors.
- Neutral Sentiment: Analyst sentiment remains mixed but constructive, with an overall Moderate Buy rating and an average price target above the current trading level.
- Negative Sentiment: One research firm recently downgraded the stock to Hold, which could temper enthusiasm despite the insider buying and solid fundamentals.
Analyst Upgrades and Downgrades
Several analysts have weighed in on the company. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price objective for the company. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Finally, Wall Street Zen raised shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $85.00.
Check Out Our Latest Stock Report on NMM
Institutional Trading of Navios Maritime Partners
A number of institutional investors and hedge funds have recently modified their holdings of NMM. JPMorgan Chase & Co. raised its position in shares of Navios Maritime Partners by 64.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock valued at $672,000 after acquiring an additional 7,006 shares during the period. Jump Financial LLC bought a new position in Navios Maritime Partners during the 2nd quarter worth approximately $580,000. Cerity Partners LLC acquired a new position in Navios Maritime Partners during the second quarter valued at approximately $212,000. BNP Paribas Financial Markets increased its stake in 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. increased its stake in Navios Maritime Partners by 2.2% in the second 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 in the last quarter. 62.74% of the stock is owned by institutional investors.
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.
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