Navios Maritime Partners (NYSE:NMM) Shares Down 3.8% – What’s Next?

Navios Maritime Partners L.P. (NYSE:NMM) dropped 3.8% during mid-day trading on Monday . The stock traded as low as $49.21 and last traded at $49.82. Approximately 71,487 shares traded hands during trading, a decline of 61% from the average daily volume of 182,736 shares. The stock had previously closed at $51.80.

Analyst Ratings Changes

NMM has been the subject of several analyst reports. 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 report on Thursday, September 19th. StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st.

Navios Maritime Partners Stock Up 0.6 %

The business’s 50 day simple moving average is $56.88 and its 200 day simple moving average is $52.22. The company has a market capitalization of $1.43 billion, a PE ratio of 3.62 and a beta of 1.99. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.69.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). The business had revenue of $340.84 million during 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 firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.68 earnings per share. As a group, analysts anticipate that Navios Maritime Partners L.P. will post 12.37 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.42%. Navios Maritime Partners’s dividend payout ratio (DPR) is 1.52%.

Institutional Investors Weigh In On Navios Maritime Partners

Institutional investors have recently made changes to their positions in the stock. Ieq Capital LLC purchased a new position in Navios Maritime Partners during the second quarter worth about $2,064,000. Sei Investments Co. raised its holdings in Navios Maritime Partners by 748.2% in the second 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. Pekin Hardy Strauss Inc. acquired a new position in Navios Maritime Partners during the 2nd quarter worth $1,375,000. Consolidated Portfolio Review Corp bought a new stake in Navios Maritime Partners in the third quarter valued at about $935,000. Finally, Integrated Investment Consultants LLC bought a new position in Navios Maritime Partners during the third quarter worth $4,208,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

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.