Navios Maritime Partners (NYSE:NMM) Shares Gap Up – Still a Buy?

Navios Maritime Partners LP (NYSE:NMM) gapped up before the market opened on Tuesday. The stock had previously closed at $93.06, but opened at $96.60. Navios Maritime Partners shares last traded at $96.41, with a volume of 5,814 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Jefferies Financial Group increased their target price on Navios Maritime Partners from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Weiss Ratings upgraded Navios Maritime Partners from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $100.00.

Navios Maritime Partners Stock Up 0.5%

The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.57. The firm has a 50 day moving average price of $88.25 and a 200-day moving average price of $77.92. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 6.32 and a beta of 1.05.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, August 27th. The shipping company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.35 by $0.30. Navios Maritime Partners had a return on equity of 12.24% and a net margin of 30.27%. The firm had revenue of $410.17 million for the quarter, compared to analyst estimates of $360.83 million. During the same quarter in the prior year, the company earned $2.15 EPS. Navios Maritime Partners’s revenue was up 25.2% on a year-over-year basis.

Navios Maritime Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Monday, August 10th. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 1.57%.

Insiders Place Their Bets

In other news, insider Angeliki Frangou bought 1,167 shares of Navios Maritime Partners stock in a transaction on Monday, July 20th. The shares were bought at an average cost of $72.95 per share, for a total transaction of $85,132.65. Following the acquisition, the insider owned 4,773,298 shares in the company, valued at approximately $348,212,089.10. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders have bought 18,770 shares of company stock valued at $1,457,662.

Institutional Investors Weigh In On Navios Maritime Partners

A number of hedge funds and other institutional investors have recently modified their holdings of NMM. Valley Wealth Managers Inc. purchased a new position in shares of Navios Maritime Partners during the first quarter valued at approximately $63,000. State of Wyoming boosted its position in Navios Maritime Partners by 77.8% during the first quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock worth $313,000 after acquiring an additional 2,029 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Navios Maritime Partners in the 1st quarter worth approximately $622,000. Empowered Funds LLC grew its stake in Navios Maritime Partners by 74.1% in the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after acquiring an additional 4,644 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its holdings in Navios Maritime Partners by 2.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,381 shares of the shipping company’s stock valued at $1,288,000 after acquiring an additional 375 shares during the last quarter. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE:NMM) is a global owner and operator of commercial vessels. The company provides seaborne transportation services for dry bulk commodities, containerized goods and liquid cargoes through a diversified fleet that includes dry bulk carriers, containerships and tanker vessels.

Its vessels transport commodities such as iron ore, grain, coal and other dry bulk materials, as well as petroleum products, chemicals and other liquid cargoes. Navios Maritime Partners serves international trade routes and works with charterers and customers across major shipping markets worldwide.

Navios Maritime Partners was established in 2007 and is part of the broader Navios group of maritime companies.