Navios Maritime Partners (NYSE:NMM) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

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 $48.07 and traded as high as $57.31. Navios Maritime Partners shares last traded at $56.9350, with a volume of 55,884 shares trading hands.

Analyst Upgrades and Downgrades

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

Navios Maritime Partners Stock Performance

The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 6.52 and a beta of 1.34. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a 50-day simple moving average of $53.33 and a two-hundred day simple moving average of $48.07.

Navios Maritime Partners (NYSE:NMM) last issued 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. The business had revenue of $346.92 million for the quarter, compared to analysts’ expectations of $334.64 million. Navios Maritime Partners had a net margin of 20.04% and a return on equity of 8.69%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.15 earnings per share. On average, sell-side analysts anticipate that Navios Maritime Partners LP will post 12.64 EPS for the current fiscal year.

Navios Maritime Partners Announces Dividend

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

Institutional Trading of Navios Maritime Partners

Several hedge funds have recently modified their holdings of NMM. JPMorgan Chase & Co. boosted its holdings in Navios Maritime Partners by 95.5% in the third quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock valued at $1,572,000 after purchasing an additional 17,040 shares during the period. Qube Research & Technologies Ltd acquired a new stake in Navios Maritime Partners in the 3rd quarter valued at about $639,000. Moors & Cabot Inc. boosted its stake in shares of Navios Maritime Partners by 0.8% in the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock valued at $4,175,000 after buying an additional 750 shares during the period. Lighthouse Investment Partners LLC boosted its stake in shares of Navios Maritime Partners by 92.0% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 52,109 shares of the shipping company’s stock valued at $2,348,000 after buying an additional 24,964 shares during the period. Finally, Bank of America Corp DE grew 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 in the last quarter. 62.74% of the stock is currently 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.