Navios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou bought 1,134 shares of Navios Maritime Partners stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average price of $72.69 per share, with a total value of $82,430.46. Following the acquisition, the insider directly owned 4,721,603 shares of the company’s stock, valued at $343,213,322.07. The trade was a 0.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Angeliki Frangou also recently made the following trade(s):
- On Friday, May 15th, Angeliki Frangou purchased 1,172 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $70.93 per share, for a total transaction of $83,129.96.
- On Thursday, May 14th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $71.61 per share, for a total transaction of $83,712.09.
- On Tuesday, May 12th, Angeliki Frangou acquired 1,138 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $72.99 per share, with a total value of $83,062.62.
- On Monday, May 11th, Angeliki Frangou acquired 1,111 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $73.85 per share, with a total value of $82,047.35.
- On Friday, May 8th, Angeliki Frangou acquired 1,164 shares of Navios Maritime Partners stock. The stock was bought at an average price of $74.62 per share, with a total value of $86,857.68.
- On Thursday, May 7th, Angeliki Frangou bought 1,135 shares of Navios Maritime Partners stock. The stock was bought at an average cost of $72.49 per share, for a total transaction of $82,276.15.
- On Wednesday, May 6th, Angeliki Frangou bought 1,086 shares of Navios Maritime Partners stock. The shares were bought at an average price of $74.77 per share, for a total transaction of $81,200.22.
- On Tuesday, May 5th, Angeliki Frangou purchased 1,171 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $74.55 per share, with a total value of $87,298.05.
- On Monday, May 4th, Angeliki Frangou purchased 1,169 shares of Navios Maritime Partners stock. The stock was bought at an average price of $71.74 per share, with a total value of $83,864.06.
- On Friday, May 1st, Angeliki Frangou purchased 1,155 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.08 per share, for a total transaction of $82,097.40.
Navios Maritime Partners Stock Up 0.4%
Shares of Navios Maritime Partners stock traded up $0.31 on Friday, reaching $71.37. 55,035 shares of the company were exchanged, compared to its average volume of 136,610. Navios Maritime Partners LP has a one year low of $36.62 and a one year high of $77.90. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 7.43 and a beta of 1.06. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The company has a 50-day moving average of $68.82 and a 200 day moving average of $60.45.
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 given a $0.06 dividend. 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. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is 2.50%.
Analysts Set New Price Targets
NMM has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price on the stock. Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. Finally, Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Navios Maritime Partners presently has a consensus rating of “Buy” and a consensus target price of $85.00.
Check Out Our Latest Report on NMM
Hedge Funds Weigh In On Navios Maritime Partners
Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of Navios Maritime Partners by 95.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock worth $1,572,000 after buying an additional 17,040 shares during the last quarter. Arbiter Partners Capital Management LLC acquired a new position in Navios Maritime Partners in the 3rd quarter valued at about $1,117,000. ING Groep NV grew its stake in Navios Maritime Partners by 123.6% in the 3rd 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. Mraz Amerine & Associates Inc. raised its holdings in 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 during the period. Finally, Live Oak Investment Partners raised its holdings in Navios Maritime Partners by 5.9% in the 3rd quarter. Live Oak Investment Partners now owns 30,217 shares of the shipping company’s stock valued at $1,361,000 after acquiring an additional 1,680 shares during the period. 62.74% of the stock is currently owned by institutional investors and hedge funds.
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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