Navios Maritime Partners (NYSE:NMM) Trading 5.2% Higher – Here’s What Happened

Navios Maritime Partners L.P. (NYSE:NMM)’s stock price traded up 5.2% during trading on Thursday . The company traded as high as $53.23 and last traded at $52.55. 57,036 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 182,184 shares. The stock had previously closed at $49.93.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. StockNews.com raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group increased their target price on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th.

Navios Maritime Partners Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.69. The company’s fifty day simple moving average is $57.34 and its two-hundred day simple moving average is $51.83. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 3.96 and a beta of 1.99.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Tuesday, November 5th. The shipping company reported $3.15 EPS for the quarter, missing the consensus estimate of $3.80 by ($0.65). Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.86%. The firm had revenue of $340.84 million during the quarter, compared to analysts’ expectations of $326.32 million. During the same quarter in the prior year, the company earned $2.68 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. On average, analysts forecast that Navios Maritime Partners L.P. will post 12.37 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 12th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.38%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 1.52%.

Institutional Trading of Navios Maritime Partners

Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets boosted its position in Navios Maritime Partners by 21.8% during the third quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock worth $135,000 after purchasing an additional 384 shares during the period. Pekin Hardy Strauss Inc. boosted its position in Navios Maritime Partners by 3.2% during the third quarter. Pekin Hardy Strauss Inc. now owns 27,825 shares of the shipping company’s stock worth $1,743,000 after purchasing an additional 875 shares during the period. Commonwealth Equity Services LLC boosted its position in Navios Maritime Partners by 1.7% during the second quarter. Commonwealth Equity Services LLC now owns 131,707 shares of the shipping company’s stock worth $6,721,000 after purchasing an additional 2,169 shares during the period. Moors & Cabot Inc. boosted its position in Navios Maritime Partners by 4.0% during the third quarter. Moors & Cabot Inc. now owns 74,130 shares of the shipping company’s stock worth $4,643,000 after purchasing an additional 2,850 shares during the period. Finally, Merrion Investment Management Co LLC bought a new position in Navios Maritime Partners during the third quarter worth about $401,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.