Navios Maritime Partners (NYSE:NMM) Stock Price Up 5.2% – Here’s What Happened

Navios Maritime Partners L.P. (NYSE:NMM) rose 5.2% during trading on Thursday . The stock traded as high as $53.23 and last traded at $52.55. Approximately 57,036 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 182,184 shares. The stock had previously closed at $49.93.

Analyst Ratings Changes

NMM has been the subject of several research reports. Jefferies Financial Group lifted their target price on Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. 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 Stock Up 6.4 %

The business has a fifty day moving average of $57.23 and a 200 day moving average of $51.76. The firm has a market cap of $1.59 billion, a P/E ratio of 3.79 and a beta of 1.99. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.49.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Tuesday, November 5th. The shipping company reported $3.15 EPS for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.86%. The company had revenue of $340.84 million during the quarter, compared to the consensus estimate of $326.32 million. During the same quarter in the prior year, the company posted $2.68 EPS. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Navios Maritime Partners L.P. will post 12.37 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 12th will be paid a $0.05 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. Navios Maritime Partners’s payout ratio is 1.52%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NMM. Main Street Financial Solutions LLC boosted its position in shares of Navios Maritime Partners by 2,977.2% during the second 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. Acadian Asset Management LLC boosted its position in shares of Navios Maritime Partners by 870.2% during the second quarter. Acadian Asset Management LLC now owns 126,709 shares of the shipping company’s stock worth $6,463,000 after buying an additional 113,649 shares during the period. Integrated Investment Consultants LLC acquired a new position in shares of Navios Maritime Partners during the third quarter worth about $4,208,000. Sei Investments Co. boosted its position in shares of Navios Maritime Partners by 748.2% during the second quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock worth $2,812,000 after buying an additional 48,612 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of Navios Maritime Partners during the second quarter worth about $2,064,000. 62.74% of the stock is owned by institutional investors and hedge funds.

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 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.