Navios Maritime Partners LP (NYSE:NMM – Get Free Report) insider Angeliki Frangou purchased 1,208 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were acquired at an average price of $68.88 per share, with a total value of $83,207.04. Following the purchase, the insider directly owned 4,757,419 shares in the company, valued at $327,691,020.72. This represents a 0.03% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Angeliki Frangou also recently made the following trade(s):
- On Friday, June 26th, Angeliki Frangou acquired 1,195 shares of Navios Maritime Partners stock. The stock was acquired at an average cost of $69.22 per share, for a total transaction of $82,717.90.
- On Tuesday, June 30th, Angeliki Frangou acquired 1,199 shares of Navios Maritime Partners stock. The shares were acquired at an average price of $69.50 per share, with a total value of $83,330.50.
- On Thursday, June 25th, Angeliki Frangou bought 1,170 shares of Navios Maritime Partners stock. The shares were acquired at an average cost of $70.20 per share, with a total value of $82,134.00.
- On Wednesday, June 24th, Angeliki Frangou bought 1,148 shares of Navios Maritime Partners stock. The stock was acquired at an average price of $71.94 per share, for a total transaction of $82,587.12.
- On Tuesday, June 23rd, Angeliki Frangou purchased 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 stock was acquired at an average cost of $71.39 per share, for a total transaction of $84,739.93.
- On Thursday, June 18th, Angeliki Frangou acquired 1,151 shares of Navios Maritime Partners stock. The shares were bought at an average cost of $71.10 per share, with a total value of $81,836.10.
- On Wednesday, June 17th, Angeliki Frangou acquired 1,126 shares of Navios Maritime Partners stock. The shares were bought at an average cost 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 stock was bought 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 bought at an average price of $74.73 per share, for a total transaction of $82,651.38.
Navios Maritime Partners Stock Up 2.1%
NMM stock opened at $72.56 on Friday. The firm has a market capitalization of $2.08 billion, a PE ratio of 6.11 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. Navios Maritime Partners LP has a twelve month low of $37.42 and a twelve month high of $80.69. The stock’s 50 day moving average is $72.10 and its 200-day moving average is $65.40.
Navios Maritime Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.02%.
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. 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. Finally, Jefferies Financial Group assumed coverage on Navios Maritime Partners in a research note on Friday, April 24th. They issued a “buy” rating and a $85.00 target price on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.
Read Our Latest Analysis on Navios Maritime Partners
Institutional Trading of Navios Maritime Partners
Hedge funds have recently added to or reduced their stakes in the stock. Empowered Funds LLC boosted its stake in Navios Maritime Partners by 74.1% in the first quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock valued at $736,000 after acquiring an additional 4,644 shares during the last quarter. Bank of America Corp DE grew its position in shares of Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after acquiring an additional 72,754 shares during the period. Sei Investments Co. purchased a new stake in shares of Navios Maritime Partners during the 1st quarter worth approximately $1,889,000. Walleye Capital LLC increased its stake in shares of Navios Maritime Partners by 45,274.3% during the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after purchasing an additional 149,858 shares during the last quarter. Finally, State of Wyoming raised its holdings in shares of Navios Maritime Partners by 77.8% in the 1st quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock worth $313,000 after purchasing an additional 2,029 shares during the period. Institutional investors own 62.74% of the company’s stock.
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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