Navios Maritime Partners (NYSE:NMM) Sets New 1-Year Low – What’s Next?

Navios Maritime Partners L.P. (NYSE:NMM)’s share price hit a new 52-week low on Thursday . The company traded as low as $37.12 and last traded at $37.49, with a volume of 26209 shares changing hands. The stock had previously closed at $39.84.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th.

Navios Maritime Partners Trading Down 10.2 %

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.13 and a quick ratio of 1.13. The business’s 50-day simple moving average is $41.15 and its two-hundred day simple moving average is $47.82. The stock has a market capitalization of $935.36 million, a price-to-earnings ratio of 2.63 and a beta of 1.65.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, February 13th. The shipping company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $4.54 by ($1.93). Navios Maritime Partners had a net margin of 27.53% and a return on equity of 11.64%. The business had revenue of $302.99 million for the quarter, compared to analyst estimates of $340.83 million. On average, research analysts anticipate that Navios Maritime Partners L.P. will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.05 per share. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.63%. Navios Maritime Partners’s payout ratio is currently 1.67%.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in shares of 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 in the last quarter. LPL Financial LLC acquired a new stake in Navios Maritime Partners during the fourth quarter worth about $204,000. Raymond James Financial Inc. acquired a new position in Navios Maritime Partners during the 4th quarter valued at approximately $219,000. First Trust Advisors LP increased its position in Navios Maritime Partners by 23.7% in the fourth quarter. First Trust Advisors LP now owns 5,325 shares of the shipping company’s stock worth $231,000 after buying an additional 1,020 shares during the period. Finally, Merrion Investment Management Co LLC boosted its holdings in shares of Navios Maritime Partners by 56.9% during the fourth quarter. Merrion Investment Management Co LLC now owns 10,040 shares of the shipping company’s stock valued at $435,000 after acquiring an additional 3,640 shares during the period. Hedge funds and other 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.