Navios Maritime Partners (NYSE:NMM) Downgraded by Jefferies Financial Group

Jefferies Financial Group cut shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, Briefing.com Automated Import reports. The firm currently has $9.00 target price on the shipping company’s stock.

A number of other equities research analysts also recently issued reports on NMM. ValuEngine upgraded Navios Maritime Partners from a strong sell rating to a sell rating in a research report on Monday, July 13th. Zacks Investment Research raised Navios Maritime Partners from a hold rating to a buy rating and set a $9.75 target price on the stock in a research report on Saturday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $13.81.

Shares of NMM opened at $6.34 on Wednesday. The stock has a market capitalization of $69.68 million, a PE ratio of -0.98 and a beta of 2.64. The company’s fifty day moving average is $8.77 and its 200 day moving average is $8.68. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.82 and a current ratio of 0.82. Navios Maritime Partners has a fifty-two week low of $4.08 and a fifty-two week high of $21.30.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Wednesday, July 29th. The shipping company reported ($0.71) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.29). Navios Maritime Partners had a positive return on equity of 2.55% and a negative net margin of 32.80%. The business had revenue of $46.55 million during the quarter, compared to the consensus estimate of $46.69 million. As a group, research analysts forecast that Navios Maritime Partners will post 0.85 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, August 7th. Navios Maritime Partners’s payout ratio is currently 49.38%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. bought a new position in shares of Navios Maritime Partners in the first quarter worth about $134,000. Globeflex Capital L P acquired a new stake in Navios Maritime Partners during the 1st quarter valued at approximately $111,000. UBS Group AG boosted its holdings in shares of Navios Maritime Partners by 271.2% in the 2nd quarter. UBS Group AG now owns 16,227 shares of the shipping company’s stock valued at $157,000 after acquiring an additional 11,856 shares during the last quarter. Marshall Wace LLP increased its stake in shares of Navios Maritime Partners by 275.1% in the fourth quarter. Marshall Wace LLP now owns 9,430 shares of the shipping company’s stock worth $176,000 after acquiring an additional 6,916 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in shares of Navios Maritime Partners by 5.3% during the first quarter. Two Sigma Advisers LP now owns 47,387 shares of the shipping company’s stock worth $252,000 after purchasing an additional 2,400 shares during the last quarter. 8.91% of the stock is currently owned by hedge funds and other institutional investors.

About Navios Maritime Partners

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.

See Also: Return on Equity (ROE)

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