Navios Maritime Partners (NYSE:NMM) Stock Price Breaks Above 200-Day Moving Average – Here’s Why

Navios Maritime Partners LP (NYSE:NMM)’s share price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $78.94 and traded as high as $88.24. Navios Maritime Partners shares last traded at $86.89, with a volume of 137,375 shares.

Wall Street Analysts Forecast Growth

NMM has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price target 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 raised Navios Maritime Partners from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Two investment analysts have rated the stock with a Buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $100.00.

Navios Maritime Partners Stock Performance

The firm has a market cap of $2.53 billion, a P/E ratio of 6.21 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.53 and a current ratio of 1.53. The business’s 50-day simple moving average is $89.98 and its 200 day simple moving average is $79.20.

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

Navios Maritime Partners Dividend Announcement

The company 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 0.3%. The ex-dividend date was Monday, August 10th. Navios Maritime Partners’s dividend payout ratio is 1.57%.

Insiders Place Their Bets

In other news, insider Angeliki Frangou bought 1,084 shares of the company’s stock in a transaction on Friday, July 24th. The shares were acquired at an average cost of $79.02 per share, with a total value of $85,657.68. Following the completion of the transaction, the insider owned 4,777,783 shares of the company’s stock, valued at approximately $377,540,412.66. This trade represents a 0.02% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders bought a total of 14,202 shares of company stock valued at $1,119,827 over the last 90 days.

Institutional Investors Weigh In On Navios Maritime Partners

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

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE:NMM) is a publicly traded maritime transportation company that owns and operates vessels serving international trade routes. Its fleet is focused primarily on dry bulk carriers and containerships, with additional exposure to tanker shipping through vessels that transport liquid cargoes.

The company’s vessels transport commodities and manufactured goods for customers worldwide. Dry bulk ships carry cargoes such as iron ore, grain and coal, while containerships transport consumer products, industrial goods and other containerized freight.