Navios Maritime Partners (NYSE:NMM) Stock Crosses Above 200 Day Moving Average – What’s Next?

Navios Maritime Partners LP (NYSE:NMM)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $46.82 and traded as high as $55.93. Navios Maritime Partners shares last traded at $55.4950, with a volume of 148,638 shares changing hands.

Wall Street Analyst Weigh In

NMM has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 29th. Wall Street Zen upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Navios Maritime Partners Trading Up 4.3%

The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $1.65 billion, a P/E ratio of 6.36 and a beta of 1.34. The company has a fifty day simple moving average of $51.96 and a two-hundred day simple moving average of $46.82.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Tuesday, November 18th. The shipping company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.28. Navios Maritime Partners had a return on equity of 8.69% and a net margin of 20.04%.The company had revenue of $346.92 million during the quarter, compared to the consensus estimate of $334.64 million. During the same period in the prior year, the company earned $3.15 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts expect that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Monday, November 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.4%. Navios Maritime Partners’s dividend payout ratio is currently 2.29%.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ING Groep NV increased its holdings in Navios Maritime Partners by 123.6% during the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after purchasing an additional 53,400 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Navios Maritime Partners by 28.8% during the third quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock worth $5,314,000 after buying an additional 26,340 shares during the period. Lighthouse Investment Partners LLC grew its holdings in shares of Navios Maritime Partners by 92.0% during the third quarter. Lighthouse Investment Partners LLC now owns 52,109 shares of the shipping company’s stock worth $2,348,000 after buying an additional 24,964 shares in the last quarter. Arbiter Partners Capital Management LLC bought a new position in shares of Navios Maritime Partners during the third quarter worth about $1,117,000. Finally, Ion Asset Management Ltd. raised its position in Navios Maritime Partners by 2.2% in the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after buying an additional 17,285 shares during the last quarter. 62.74% of the stock is owned by institutional investors and hedge funds.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.