Navios Maritime Partners L.P. (NYSE:NMM) Short Interest Update

Navios Maritime Partners L.P. (NYSE:NMM) was the recipient of a large increase in short interest in September. As of September 15th, there was short interest totalling 223,800 shares, an increase of 19.5% from the August 31st total of 187,300 shares. Based on an average daily volume of 201,200 shares, the days-to-cover ratio is currently 1.1 days. Approximately 1.3% of the shares of the stock are short sold.

Navios Maritime Partners Stock Down 1.4 %

Shares of NMM traded down $0.89 during mid-day trading on Monday, reaching $62.52. The company’s stock had a trading volume of 123,493 shares, compared to its average volume of 181,110. The business has a fifty day moving average of $51.55 and a 200 day moving average of $48.47. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 4.72 and a beta of 1.97. Navios Maritime Partners has a 1 year low of $21.18 and a 1 year high of $65.89. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.49.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.22. Navios Maritime Partners had a return on equity of 13.63% and a net margin of 30.28%. The company had revenue of $342.20 million during the quarter, compared to analyst estimates of $312.39 million. During the same quarter in the prior year, the company earned $3.32 earnings per share. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, analysts forecast that Navios Maritime Partners will post 14.37 earnings per share for the current fiscal 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 $0.05 dividend. This represents a $0.20 dividend on an annualized basis 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 (DPR) is presently 1.51%.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in shares of 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 acquiring an additional 1,228 shares during the last quarter. Westhampton Capital LLC acquired a new position in shares of Navios Maritime Partners in the first quarter worth $241,000. Aristides Capital LLC acquired a new position in shares of Navios Maritime Partners in the first quarter worth $361,000. Tactive Advisors LLC acquired a new position in Navios Maritime Partners during the first quarter worth $442,000. Finally, Virtu Financial LLC acquired a new position in Navios Maritime Partners during the first quarter worth $452,000. 62.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NMM. StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group increased their price objective on Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th.

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.