Navios Maritime Partners (NYSE:NMM) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Navios Maritime Partners L.P. (NYSE:NMM) 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.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group boosted their price objective on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

Navios Maritime Partners Stock Performance

The firm’s 50 day moving average price is $55.80 and its 200-day moving average price is $50.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $1.77 billion, a PE ratio of 4.43 and a beta of 1.97.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.22. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.63%. The business had revenue of $342.20 million for the quarter, compared to analyst estimates of $312.39 million. During the same period in the prior year, the company posted $3.32 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, research analysts expect that Navios Maritime Partners L.P. will post 14.37 EPS for the current year.

Navios Maritime Partners Dividend Announcement

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

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds have recently modified their holdings of the company. Main Street Financial Solutions LLC raised its position in shares of Navios Maritime Partners by 2,977.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 750,835 shares of the shipping company’s stock worth $38,315,000 after purchasing an additional 726,435 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Navios Maritime Partners by 870.2% during the 2nd quarter. Acadian Asset Management LLC now owns 126,709 shares of the shipping company’s stock worth $6,463,000 after purchasing an additional 113,649 shares during the last quarter. Sei Investments Co. raised its position in shares of Navios Maritime Partners by 748.2% during the 2nd quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock worth $2,812,000 after purchasing an additional 48,612 shares during the last quarter. Ieq Capital LLC acquired a new position in shares of Navios Maritime Partners during the 2nd quarter worth about $2,064,000. Finally, Pekin Hardy Strauss Inc. acquired a new position in shares of Navios Maritime Partners during the 2nd quarter worth about $1,375,000. 62.74% of the stock is 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.