Navios Maritime Partners (NMM) PT Lowered to $1.80
Navios Maritime Partners (NYSE:NMM) had its price objective reduced by Morgan Stanley from $2.20 to $1.80 in a research report issued to clients and investors on Tuesday. The firm currently has an “underweight” rating on the shipping company’s stock. Morgan Stanley’s target price would suggest a potential upside of 5.88% from the stock’s previous close.
Several other analysts also recently weighed in on NMM. Jefferies Group initiated coverage on Navios Maritime Partners in a research note on Monday, December 18th. They set a “buy” rating and a $2.00 price target on the stock. Zacks Investment Research downgraded Navios Maritime Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Finally, JPMorgan Chase downgraded Navios Maritime Partners from an “overweight” rating to a “neutral” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. Navios Maritime Partners has a consensus rating of “Hold” and a consensus price target of $2.31.
Navios Maritime Partners stock traded down $0.01 during trading hours on Tuesday, hitting $1.70. 41,477 shares of the stock traded hands, compared to its average volume of 916,627. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $284.90, a PE ratio of 10.63 and a beta of 1.49. Navios Maritime Partners has a 1 year low of $1.45 and a 1 year high of $2.62.
Several institutional investors and hedge funds have recently modified their holdings of NMM. LPL Financial LLC boosted its stake in shares of Navios Maritime Partners by 115.2% in the fourth quarter. LPL Financial LLC now owns 56,049 shares of the shipping company’s stock worth $132,000 after buying an additional 30,000 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Navios Maritime Partners in the fourth quarter worth about $196,000. Concourse Capital Management LLC purchased a new stake in shares of Navios Maritime Partners in the fourth quarter worth about $208,000. Deutsche Bank AG purchased a new stake in shares of Navios Maritime Partners in the fourth quarter worth about $220,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Navios Maritime Partners by 137.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 109,356 shares of the shipping company’s stock worth $257,000 after buying an additional 63,312 shares during the last quarter. Hedge funds and other institutional investors own 16.05% of the company’s stock.
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About Navios Maritime Partners
Navios Maritime Partners L.P. owns and operates container and dry bulk 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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