Navios Maritime Partners (NYSE:NMM) Sees Unusually-High Trading Volume

Shares of Navios Maritime Partners L.P. (NYSE:NMMGet Rating) saw strong trading volume on Friday . 11,734 shares changed hands during mid-day trading, a decline of 91% from the previous session’s volume of 133,093 shares.The stock last traded at $26.54 and had previously closed at $27.23.

Wall Street Analyst Weigh In

Several research firms have recently commented on NMM. TheStreet raised Navios Maritime Partners from a “c” rating to a “b-” rating in a report on Wednesday, August 3rd. Jefferies Financial Group began coverage on Navios Maritime Partners in a report on Wednesday, July 20th. They set a “buy” rating for the company. Clarkson Capital reaffirmed a “buy” rating on shares of Navios Maritime Partners in a report on Tuesday, June 14th. Finally, StockNews.com lowered Navios Maritime Partners from a “buy” rating to a “hold” rating in a report on Monday, August 1st.

Navios Maritime Partners Stock Performance

The company has a quick ratio of 0.64, a current ratio of 0.94 and a debt-to-equity ratio of 0.54. The company has a 50-day moving average price of $26.39 and a 200-day moving average price of $28.56. The firm has a market capitalization of $785.50 million, a price-to-earnings ratio of 1.58 and a beta of 2.24.

Navios Maritime Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Tuesday, August 9th were given a dividend of $0.05 per share. The ex-dividend date was Monday, August 8th. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. Navios Maritime Partners’s dividend payout ratio is presently 1.22%.

Hedge Funds Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently made changes to their positions in NMM. Raymond James Financial Services Advisors Inc. boosted its position in shares of Navios Maritime Partners by 8.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 11,495 shares of the shipping company’s stock worth $288,000 after buying an additional 920 shares during the period. BNP Paribas Arbitrage SA acquired a new position in shares of Navios Maritime Partners during the fourth quarter worth approximately $1,454,000. Navellier & Associates Inc. lifted its position in Navios Maritime Partners by 92.8% in the fourth quarter. Navellier & Associates Inc. now owns 31,901 shares of the shipping company’s stock worth $800,000 after purchasing an additional 15,353 shares during the period. Counterpoint Mutual Funds LLC acquired a new stake in Navios Maritime Partners in the first quarter worth approximately $90,000. Finally, Vanguard Capital Wealth Advisors acquired a new stake in Navios Maritime Partners in the first quarter worth approximately $461,000. 10.98% of the stock is currently owned by institutional investors and hedge funds.

About Navios Maritime Partners

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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 provides its vessels under short, medium, and longer-term charters.

Further Reading

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