Short Interest in Navios Maritime Partners L.P. (NYSE:NMM) Drops By 32.9%

Navios Maritime Partners L.P. (NYSE:NMMGet Rating) was the target of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 222,900 shares, a decrease of 32.9% from the March 15th total of 332,100 shares. Based on an average trading volume of 364,800 shares, the short-interest ratio is currently 0.6 days.

Shares of Navios Maritime Partners stock opened at $32.83 on Friday. The company has a market cap of $650.69 million, a PE ratio of 1.27 and a beta of 2.16. Navios Maritime Partners has a 52 week low of $20.52 and a 52 week high of $37.16. The business has a 50 day moving average price of $32.49 and a 200-day moving average price of $29.21. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.71.

Navios Maritime Partners (NYSE:NMMGet Rating) last issued its quarterly earnings data on Thursday, February 17th. The shipping company reported $4.03 EPS for the quarter, missing the consensus estimate of $5.07 by ($1.04). The company had revenue of $268.15 million during the quarter, compared to analysts’ expectations of $284.96 million. Navios Maritime Partners had a return on equity of 27.89% and a net margin of 72.38%. As a group, research analysts anticipate that Navios Maritime Partners will post 14.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 11th. Investors of record on Wednesday, February 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 0.61%. The ex-dividend date of this dividend was Tuesday, February 8th. Navios Maritime Partners’s payout ratio is 0.77%.

Several brokerages have recently commented on NMM. Zacks Investment Research downgraded Navios Maritime Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, January 28th. StockNews.com began coverage on Navios Maritime Partners in a research note on Thursday, March 31st. They issued a “buy” rating for the company.

Several institutional investors and hedge funds have recently modified their holdings of the stock. PEAK6 Investments LLC purchased a new stake in Navios Maritime Partners in the third quarter worth $1,427,000. Navellier & Associates Inc. increased its position in Navios Maritime Partners by 47.9% in the third quarter. Navellier & Associates Inc. now owns 16,548 shares of the shipping company’s stock worth $535,000 after buying an additional 5,363 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Navios Maritime Partners by 4.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 128,363 shares of the shipping company’s stock worth $3,220,000 after buying an additional 5,780 shares during the last quarter. Moors & Cabot Inc. purchased a new stake in Navios Maritime Partners in the third quarter worth $390,000. Finally, Jump Financial LLC purchased a new stake in Navios Maritime Partners in the third quarter worth $223,000. 42.87% of the stock is owned by institutional investors.

About Navios Maritime Partners (Get Rating)

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 dry cargo commodities, including iron ore, coal, grain, fertilizers, and containers, as well as charters its vessels under medium to long-term charters.

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