Navios Maritime Partners (NYSE:NMM) Stock Price Passes Above 200-Day Moving Average of $45.85

Navios Maritime Partners L.P. (NYSE:NMM)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $45.85 and traded as high as $51.92. Navios Maritime Partners shares last traded at $50.51, with a volume of 130,358 shares.

Analyst Ratings Changes

Separately, StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st.

Navios Maritime Partners Trading Down 1.5 %

The company has a market capitalization of $1.50 billion, a P/E ratio of 3.77 and a beta of 1.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a fifty day moving average price of $49.42 and a 200-day moving average price of $45.98.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.22. The company had revenue of $342.20 million during the quarter, compared to analyst estimates of $312.39 million. Navios Maritime Partners had a return on equity of 13.86% and a net margin of 30.28%. Navios Maritime Partners’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $3.32 earnings per share. On average, equities research analysts anticipate that Navios Maritime Partners L.P. will post 14.8 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, August 9th. Navios Maritime Partners’s dividend payout ratio is presently 1.51%.

Institutional Trading of Navios Maritime Partners

A number of large investors have recently bought and sold shares of the company. Sei Investments Co. increased its stake in shares of Navios Maritime Partners by 748.2% in the second quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock worth $2,812,000 after purchasing an additional 48,612 shares in the last quarter. Ieq Capital LLC bought a new position in Navios Maritime Partners in the 2nd quarter worth approximately $2,064,000. Pekin Hardy Strauss Inc. bought a new position in Navios Maritime Partners in the 2nd quarter worth approximately $1,375,000. Moors & Cabot Inc. boosted its holdings in Navios Maritime Partners by 37.2% in the 2nd quarter. Moors & Cabot Inc. now owns 71,280 shares of the shipping company’s stock worth $3,637,000 after buying an additional 19,330 shares during the period. Finally, Main Street Financial Solutions LLC boosted its holdings in Navios Maritime Partners by 2,977.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 750,835 shares of the shipping company’s stock worth $38,315,000 after buying an additional 726,435 shares during the period. 62.74% of the stock is 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 liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.