Navios Maritime Partners (NYSE:NMM) Rating Lowered to Hold at StockNews.com

StockNews.com cut shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a hold rating in a report issued on Wednesday.

Separately, Jefferies Financial Group increased their target price 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.

Navios Maritime Partners Stock Performance

Shares of NMM opened at $42.35 on Wednesday. The firm has a market cap of $1.27 billion, a PE ratio of 3.21 and a beta of 1.95. The company’s 50 day simple moving average is $52.07 and its 200-day simple moving average is $52.03. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59. Navios Maritime Partners has a 12-month low of $26.81 and a 12-month high of $65.89.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). The company 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 13.66%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.68 EPS. As a group, equities analysts predict that Navios Maritime Partners will post 12.37 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.47%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 1.52%.

Institutional Trading of Navios Maritime Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its holdings in Navios Maritime Partners by 21.8% in the third quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock valued at $135,000 after buying an additional 384 shares in the last quarter. Merrion Investment Management Co LLC purchased a new position in Navios Maritime Partners in the 3rd quarter valued at approximately $401,000. Virtu Financial LLC acquired a new position in Navios Maritime Partners during the third quarter worth $511,000. Consolidated Portfolio Review Corp purchased a new stake in Navios Maritime Partners during the third quarter worth $935,000. Finally, Corsair Capital Management L.P. acquired a new stake in Navios Maritime Partners in the third quarter valued at $1,000,000. 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.