Navios Maritime Partners (NYSE:NMM) Rating Increased to Hold at Zacks Investment Research

Navios Maritime Partners (NYSE:NMMGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Navios Maritime Partners L.P. is an international owner and operator of dry cargo vessels. It engages in the seaborne transportation services of drybulk commodities including iron ore, coal, grains, fertilizers and chartering of its vessels under medium to long-term charters. Navios Maritime Partners L.P. is headquartered in Piraeus, Greece. “

Separately, StockNews.com began coverage on shares of Navios Maritime Partners in a research report on Thursday, March 31st. They issued a “buy” rating on the stock.

Navios Maritime Partners stock opened at $33.43 on Wednesday. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.63. Navios Maritime Partners has a 1 year low of $20.52 and a 1 year high of $37.16. The company has a market cap of $662.58 million, a PE ratio of 1.29 and a beta of 2.16. The company’s 50-day moving average is $32.66 and its two-hundred day moving average is $29.24.

Navios Maritime Partners (NYSE:NMMGet Rating) last released its earnings results on Thursday, February 17th. The shipping company reported $4.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.07 by ($1.04). The business had revenue of $268.15 million for the quarter, compared to analyst estimates of $284.96 million. Navios Maritime Partners had a net margin of 72.38% and a return on equity of 25.60%. Research analysts forecast that Navios Maritime Partners will post 14.13 EPS for the current year.

Several large investors have recently made changes to their positions in the stock. Morgan Stanley raised its holdings in Navios Maritime Partners by 406.7% during the 2nd quarter. Morgan Stanley now owns 762,456 shares of the shipping company’s stock worth $22,538,000 after buying an additional 611,991 shares during the period. Two Sigma Advisers LP raised its holdings in Navios Maritime Partners by 11.0% during the 3rd quarter. Two Sigma Advisers LP now owns 242,400 shares of the shipping company’s stock worth $7,842,000 after buying an additional 24,100 shares during the period. Marshall Wace LLP raised its holdings in Navios Maritime Partners by 9.1% during the 3rd quarter. Marshall Wace LLP now owns 162,664 shares of the shipping company’s stock worth $5,262,000 after buying an additional 13,553 shares during the period. Commonwealth Equity Services LLC raised its holdings in Navios Maritime Partners by 4.7% during the 4th 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 period. Finally, BNP Paribas Arbitrage SA acquired a new stake in Navios Maritime Partners during the 4th quarter worth approximately $1,454,000. Institutional investors and hedge funds own 42.87% of the company’s stock.

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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