Short Interest in Navios Maritime Partners L.P. (NYSE:NMM) Expands By 23.6%

Navios Maritime Partners L.P. (NYSE:NMM) saw a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 29,900 shares, a growth of 23.6% from the November 14th total of 24,200 shares. Based on an average daily volume of 104,500 shares, the short-interest ratio is currently 0.3 days. Approximately 0.4% of the company’s stock are short sold.

A number of brokerages have recently weighed in on NMM. Zacks Investment Research upgraded Navios Maritime Partners from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a report on Tuesday, October 29th. Citigroup dropped their price objective on Navios Maritime Partners from $33.75 to $21.50 and set a “neutral” rating on the stock in a report on Friday, September 20th. Finally, ValuEngine downgraded Navios Maritime Partners from a “sell” rating to a “strong sell” rating in a report on Friday, November 1st.

An institutional investor recently bought a new position in Navios Maritime Partners stock. BlackRock Inc. acquired a new position in Navios Maritime Partners L.P. (NYSE:NMM) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,459 shares of the shipping company’s stock, valued at approximately $276,000. BlackRock Inc. owned about 0.18% of Navios Maritime Partners as of its most recent filing with the Securities and Exchange Commission (SEC). 14.08% of the stock is owned by institutional investors and hedge funds.

NYSE:NMM traded down $0.67 during mid-day trading on Thursday, reaching $17.62. The stock had a trading volume of 146,494 shares, compared to its average volume of 96,757. The business’s 50 day moving average is $18.74 and its 200 day moving average is $16.59. Navios Maritime Partners has a fifty-two week low of $11.43 and a fifty-two week high of $21.30. The stock has a market cap of $200.82 million, a P/E ratio of 5.34 and a beta of 1.88. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.80 and a quick ratio of 0.80.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Thursday, October 31st. The shipping company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $1.33. Navios Maritime Partners had a return on equity of 2.59% and a net margin of 0.62%. The firm had revenue of $63.55 million for the quarter, compared to the consensus estimate of $57.07 million. Equities analysts expect that Navios Maritime Partners will post 2.72 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $1.20 dividend on an annualized basis and a yield of 6.81%. Navios Maritime Partners’s dividend payout ratio is currently 36.36%.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.

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