Navios Maritime Partners (NYSE:NMM) Sets New 1-Year High – Here’s What Happened

Navios Maritime Partners LP (NYSE:NMM)’s stock price reached a new 52-week high on Thursday . The company traded as high as $56.67 and last traded at $55.9510, with a volume of 68596 shares. The stock had previously closed at $55.44.

Analysts Set New Price Targets

NMM has been the topic of a number of research analyst reports. Wall Street Zen raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Navios Maritime Partners in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Navios Maritime Partners Stock Up 1.2%

The business’s fifty day moving average is $51.96 and its two-hundred day moving average is $46.82. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 6.43 and a beta of 1.34. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.61.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Tuesday, November 18th. The shipping company reported $2.83 EPS for the quarter, beating the consensus estimate of $2.55 by $0.28. The company had revenue of $346.92 million during the quarter, compared to analysts’ expectations of $334.64 million. Navios Maritime Partners had a net margin of 20.04% and a return on equity of 8.69%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $3.15 EPS. Equities analysts forecast that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Navios Maritime Partners’s payout ratio is presently 2.29%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of hedge funds have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC acquired a new position in shares of Navios Maritime Partners during the second quarter worth about $394,000. Westhampton Capital LLC raised its holdings in Navios Maritime Partners by 35.4% in the second quarter. Westhampton Capital LLC now owns 7,656 shares of the shipping company’s stock valued at $288,000 after acquiring an additional 2,000 shares in the last quarter. Mraz Amerine & Associates Inc. lifted its stake in Navios Maritime Partners by 22.7% in the second quarter. Mraz Amerine & Associates Inc. now owns 40,670 shares of the shipping company’s stock worth $1,532,000 after acquiring an additional 7,525 shares during the last quarter. Live Oak Investment Partners grew its holdings in Navios Maritime Partners by 1.3% during the 2nd quarter. Live Oak Investment Partners now owns 28,537 shares of the shipping company’s stock worth $1,075,000 after acquiring an additional 375 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Navios Maritime Partners by 10.4% in the 2nd quarter. Moors & Cabot Inc. now owns 91,932 shares of the shipping company’s stock valued at $3,464,000 after purchasing an additional 8,651 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.