Navios Maritime Partners (NYSE:NMM) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Navios Maritime Partners L.P. (NYSE:NMM)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.10 and traded as high as $59.37. Navios Maritime Partners shares last traded at $58.70, with a volume of 315,305 shares trading hands.

Wall Street Analysts Forecast Growth

NMM has been the subject of several research analyst reports. Jefferies Financial Group boosted 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. StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st.

Navios Maritime Partners Price Performance

The stock has a market cap of $1.77 billion, a price-to-earnings ratio of 4.44 and a beta of 1.97. The company has a 50 day simple moving average of $55.80 and a 200-day simple moving average of $50.27. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.49.

Navios Maritime Partners (NYSE:NMM) last announced 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 business had revenue of $342.20 million for the quarter, compared to analyst estimates of $312.39 million. During the same quarter last year, the firm earned $3.32 EPS. Navios Maritime Partners’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts expect that Navios Maritime Partners L.P. will post 14.37 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Friday, August 9th. Navios Maritime Partners’s dividend payout ratio is presently 1.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NMM. Ieq Capital LLC bought a new stake in Navios Maritime Partners during the 2nd quarter worth about $2,064,000. Acadian Asset Management LLC bought a new stake in Navios Maritime Partners during the first quarter worth about $555,000. Sei Investments Co. boosted its position in Navios Maritime Partners by 748.2% during the second quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock valued at $2,812,000 after purchasing an additional 48,612 shares during the last quarter. Pekin Hardy Strauss Inc. bought a new position in Navios Maritime Partners in the second quarter valued at approximately $1,375,000. Finally, BNP Paribas Financial Markets increased its position in shares of Navios Maritime Partners by 30,700.0% during the 1st quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock worth $53,000 after purchasing an additional 1,228 shares during the last quarter. 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.