Navios Maritime Partners (NYSE:NMM) Stock Price Up 2.8%

Navios Maritime Partners L.P. (NYSE:NMM)’s stock price traded up 2.8% on Wednesday . The stock traded as high as $62.95 and last traded at $62.93. 57,990 shares were traded during mid-day trading, a decline of 68% from the average session volume of 178,746 shares. The stock had previously closed at $61.22.

Analyst Ratings Changes

NMM has been the subject of a number of recent research reports. StockNews.com raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group upped 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 report on Thursday, September 19th.

Navios Maritime Partners Stock Performance

The stock has a market capitalization of $1.90 billion, a P/E ratio of 4.78 and a beta of 1.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69. The business’s fifty day moving average price is $51.02 and its two-hundred day moving average price is $48.13.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Tuesday, August 20th. The shipping company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.84 by $0.22. The company had revenue of $342.20 million for the quarter, compared to the consensus estimate of $312.39 million. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.63%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.32 EPS. As a group, sell-side analysts forecast that Navios Maritime Partners L.P. will post 14.37 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend was Friday, August 9th. Navios Maritime Partners’s dividend payout ratio is presently 1.51%.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ieq Capital LLC purchased a new position in Navios Maritime Partners during the 2nd quarter valued at about $2,064,000. Acadian Asset Management LLC bought a new position in shares of Navios Maritime Partners during the first quarter valued at approximately $555,000. Pekin Hardy Strauss Inc. purchased a new position in Navios Maritime Partners during the second quarter valued at approximately $1,375,000. BNP Paribas Financial Markets raised its stake in Navios Maritime Partners by 30,700.0% in the first quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock worth $53,000 after buying an additional 1,228 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in Navios Maritime Partners by 37.2% during the second quarter. Moors & Cabot Inc. now owns 71,280 shares of the shipping company’s stock worth $3,637,000 after buying an additional 19,330 shares during the period. Institutional investors own 62.74% of the company’s stock.

About Navios Maritime Partners

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.