Navios Maritime Partners (NYSE:NMM) Sees Large Volume Increase

Navios Maritime Partners L.P. (NYSE:NMM) saw an uptick in trading volume on Thursday . 180,011 shares changed hands during mid-day trading, an increase of 6% from the previous session’s volume of 170,416 shares.The stock last traded at $53.85 and had previously closed at $53.10.

Analyst Ratings Changes

Separately, 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 Performance

The firm’s 50 day moving average price is $49.40 and its 200-day moving average price is $46.43. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 4.01 and a beta of 1.97. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.89.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data 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. The business had revenue of $342.20 million for the quarter, compared to the consensus estimate of $312.39 million. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.86%. Navios Maritime Partners’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company posted $3.32 earnings per share. On average, analysts anticipate that Navios Maritime Partners L.P. will post 14.8 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were paid a $0.05 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.36%. Navios Maritime Partners’s payout ratio is 1.51%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Main Street Financial Solutions LLC lifted its position in Navios Maritime Partners by 2,977.2% in the second 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 period. Commonwealth Equity Services LLC lifted its position in Navios Maritime Partners by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 131,707 shares of the shipping company’s stock worth $6,721,000 after purchasing an additional 2,169 shares during the period. Acadian Asset Management LLC lifted its position in Navios Maritime Partners by 870.2% in the second 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 period. Moors & Cabot Inc. lifted its position in Navios Maritime Partners by 37.2% in the second quarter. Moors & Cabot Inc. now owns 71,280 shares of the shipping company’s stock worth $3,637,000 after purchasing an additional 19,330 shares during the period. Finally, Sei Investments Co. lifted its position 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 worth $2,812,000 after purchasing an additional 48,612 shares during the period. 62.74% of the stock is owned by 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.