Moors & Cabot Inc. Acquires 19,330 Shares of Navios Maritime Partners L.P. (NYSE:NMM)

Moors & Cabot Inc. grew its holdings in shares of Navios Maritime Partners L.P. (NYSE:NMM) by 37.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,280 shares of the shipping company’s stock after acquiring an additional 19,330 shares during the period. Moors & Cabot Inc. owned about 0.24% of Navios Maritime Partners worth $3,637,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Main Street Financial Solutions LLC grew 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 valued at $38,315,000 after acquiring an additional 726,435 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Navios Maritime Partners by 1.7% during the 2nd quarter. Commonwealth Equity Services LLC now owns 131,707 shares of the shipping company’s stock valued at $6,721,000 after buying an additional 2,169 shares in the last quarter. Acadian Asset Management LLC lifted its stake 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 valued at $6,463,000 after buying an additional 113,649 shares in the last quarter. Jump Financial LLC lifted its stake in shares of Navios Maritime Partners by 135.5% during the 4th quarter. Jump Financial LLC now owns 21,900 shares of the shipping company’s stock valued at $612,000 after buying an additional 12,600 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Navios Maritime Partners during the 1st quarter valued at $452,000. Institutional investors own 62.74% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st.

Navios Maritime Partners Stock Up 1.1 %

NMM opened at $56.75 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.89 and a current ratio of 0.89. Navios Maritime Partners L.P. has a fifty-two week low of $21.18 and a fifty-two week high of $56.91. The firm’s fifty day moving average is $49.56 and its 200 day moving average is $46.88. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 4.29 and a beta of 1.97.

Navios Maritime Partners (NYSE:NMM) last released 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 analysts’ expectations 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 revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.32 EPS. On average, sell-side analysts forecast that Navios Maritime Partners L.P. will post 14.8 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.35%. The ex-dividend date was Friday, August 9th. Navios Maritime Partners’s payout ratio is currently 1.51%.

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.