Corsair Capital Management L.P. Takes Position in Navios Maritime Partners L.P. (NYSE:NMM)

Corsair Capital Management L.P. acquired a new position in shares of Navios Maritime Partners L.P. (NYSE:NMM) in the 3rd quarter, Holdings Channel reports. The fund acquired 15,959 shares of the shipping company’s stock, valued at approximately $1,000,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in NMM. BNP Paribas Financial Markets raised its holdings 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 valued at $135,000 after acquiring an additional 384 shares in the last quarter. Merrion Investment Management Co LLC purchased a new stake in shares of Navios Maritime Partners during the 3rd quarter valued at about $401,000. Tactive Advisors LLC purchased a new stake in Navios Maritime Partners in the first quarter worth about $442,000. Virtu Financial LLC purchased a new stake in shares of Navios Maritime Partners in the first quarter worth $452,000. Finally, Consolidated Portfolio Review Corp purchased a new position in Navios Maritime Partners in the 3rd quarter worth approximately $935,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Analyst Ratings Changes

NMM has been the topic of a number of research reports. Jefferies Financial Group lifted their price objective on Navios Maritime Partners from $65.00 to $80.00 and gave the stock 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 report on Wednesday, August 21st.

Navios Maritime Partners Stock Down 0.8 %

Shares of Navios Maritime Partners stock opened at $47.20 on Wednesday. The firm’s 50 day moving average price is $56.88 and its 200-day moving average price is $52.22. 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 L.P. has a 52-week low of $24.51 and a 52-week high of $65.89. The company has a market cap of $1.41 billion, a P/E ratio of 3.61 and a beta of 1.99.

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

Navios Maritime Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 12th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.20 dividend on an annualized basis and a yield of 0.42%. Navios Maritime Partners’s dividend payout ratio is currently 1.52%.

Navios Maritime Partners 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.