Navios Maritime Partners (NYSE:NMM) Sees Large Volume Increase – Time to Buy?

Navios Maritime Partners LP (NYSE:NMM) saw an uptick in trading volume on Wednesday . 256,210 shares changed hands during mid-day trading, an increase of 63% from the previous session’s volume of 157,456 shares.The stock last traded at $62.6080 and had previously closed at $65.67.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Sunday, February 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Navios Maritime Partners in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Navios Maritime Partners currently has an average rating of “Hold”.

Navios Maritime Partners Stock Down 4.3%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s 50 day moving average price is $60.99 and its 200-day moving average price is $53.30. The company has a market cap of $1.87 billion, a PE ratio of 6.57 and a beta of 1.31.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.28%. The business had revenue of $365.55 million during the quarter, compared to the consensus estimate of $316.00 million. During the same period in the previous year, the firm posted $2.61 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, analysts predict that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 9th were given a $0.05 dividend. The ex-dividend date was Monday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s payout ratio is presently 2.08%.

Institutional Trading of Navios Maritime Partners

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after buying an additional 202 shares during the period. Merrion Investment Management Co LLC boosted its position in shares of Navios Maritime Partners by 0.4% during the third quarter. Merrion Investment Management Co LLC now owns 65,250 shares of the shipping company’s stock valued at $2,940,000 after purchasing an additional 250 shares in the last quarter. Raymond James Financial Inc. grew its stake in Navios Maritime Partners by 5.6% in the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after purchasing an additional 380 shares during the period. Moors & Cabot Inc. raised its holdings in Navios Maritime Partners by 0.8% in the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after purchasing an additional 750 shares in the last quarter. Finally, Allworth Financial LP purchased a new position in Navios Maritime Partners during the second quarter valued at $47,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

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.