Navios Maritime Partners (NYSE:NMM) Sets New 52-Week High at $58.25

Navios Maritime Partners L.P. (NYSE:NMM) hit a new 52-week high on Monday . The stock traded as high as $58.25 and last traded at $58.25, with a volume of 1864 shares traded. The stock had previously closed at $57.10.

Analysts Set New Price Targets

NMM has been the subject of several analyst reports. StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group raised their price target on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday.

Navios Maritime Partners Trading Up 5.1 %

The stock has a market capitalization of $1.81 billion, a P/E ratio of 4.31 and a beta of 1.97. The firm’s 50-day simple moving average is $50.09 and its 200 day simple moving average is $47.65. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.55.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.22. The company had revenue of $342.20 million for the quarter, compared to the consensus estimate of $312.39 million. Navios Maritime Partners had a return on equity of 13.86% and a net margin of 30.28%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.32 EPS. Equities research analysts anticipate that Navios Maritime Partners L.P. will post 14.8 EPS for the current fiscal year.

Navios Maritime Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date of this dividend was Friday, August 9th. Navios Maritime Partners’s dividend payout ratio is currently 1.51%.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its position in shares of Navios Maritime Partners by 30,700.0% in the 1st quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock valued at $53,000 after purchasing an additional 1,228 shares during the period. Westhampton Capital LLC acquired a new position in shares of Navios Maritime Partners in the first quarter valued at approximately $241,000. Aristides Capital LLC bought a new position in Navios Maritime Partners during the 1st quarter worth $361,000. Tactive Advisors LLC bought a new position in Navios Maritime Partners during the first quarter worth about $442,000. Finally, Virtu Financial LLC bought a new position in shares of Navios Maritime Partners during the first quarter worth approximately $452,000. 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.