Navios Maritime Partners (NYSE:NMM) Upgraded at StockNews.com

StockNews.com upgraded shares of Navios Maritime Partners (NYSE:NMM) from a hold rating to a buy rating in a report released on Thursday.

Separately, Jefferies Financial Group upped their price target on Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th.

Navios Maritime Partners Trading Down 2.6 %

Shares of NMM opened at $42.41 on Thursday. The firm has a market cap of $1.27 billion, a P/E ratio of 3.22 and a beta of 1.97. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.13. The business has a 50-day moving average of $46.66 and a 200 day moving average of $51.12. Navios Maritime Partners has a fifty-two week low of $27.47 and a fifty-two week high of $65.89.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.80 by ($0.65). The company had revenue of $340.84 million for the quarter, compared to analysts’ expectations of $326.32 million. Navios Maritime Partners had a return on equity of 13.66% and a net margin of 30.48%. The company’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.68 EPS. As a group, research analysts forecast that Navios Maritime Partners will post 11.89 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 12th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Tuesday, November 12th. Navios Maritime Partners’s dividend payout ratio is 1.52%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets increased its holdings in shares of Navios Maritime Partners by 21.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock worth $135,000 after buying an additional 384 shares during the last quarter. Pekin Hardy Strauss Inc. increased its stake in Navios Maritime Partners by 3.2% in the third quarter. Pekin Hardy Strauss Inc. now owns 27,825 shares of the shipping company’s stock valued at $1,743,000 after acquiring an additional 875 shares during the last quarter. Moors & Cabot Inc. raised its position in Navios Maritime Partners by 4.0% during the third quarter. Moors & Cabot Inc. now owns 74,130 shares of the shipping company’s stock valued at $4,643,000 after purchasing an additional 2,850 shares in the last quarter. Merrion Investment Management Co LLC bought a new stake in Navios Maritime Partners during the third quarter worth about $401,000. Finally, Virtu Financial LLC purchased a new position in shares of Navios Maritime Partners in the 3rd quarter worth about $511,000. Hedge funds and other institutional investors 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.