Navios Maritime Partners (NYSE:NMM) Stock Price Up 5.2% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group upped their price objective on Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. StockNews.com upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st.

Navios Maritime Partners Stock Performance

The company has a market cap of $1.59 billion, a P/E ratio of 3.79 and a beta of 1.99. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The stock has a 50 day moving average price of $57.23 and a two-hundred day moving average price of $51.76.

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

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $0.05 per share. The ex-dividend date is 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 Investors Weigh In On Navios Maritime Partners

Large investors have recently modified their holdings of the business. Main Street Financial Solutions LLC boosted its holdings in shares of Navios Maritime Partners by 2,977.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 750,835 shares of the shipping company’s stock valued at $38,315,000 after acquiring an additional 726,435 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Navios Maritime Partners by 870.2% during the 2nd quarter. Acadian Asset Management LLC now owns 126,709 shares of the shipping company’s stock valued at $6,463,000 after acquiring an additional 113,649 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of Navios Maritime Partners during the 3rd quarter valued at $4,208,000. Sei Investments Co. boosted its holdings in shares of Navios Maritime Partners by 748.2% during the 2nd quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock valued at $2,812,000 after acquiring an additional 48,612 shares in the last quarter. Finally, Ieq Capital LLC acquired a new stake in shares of Navios Maritime Partners during the 2nd quarter valued at $2,064,000. Institutional investors and hedge funds 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.