Navios Maritime Partners (NYSE:NMM) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Navios Maritime Partners (NYSE:NMM) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings upgraded shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Navios Maritime Partners presently has a consensus rating of “Buy”.

Navios Maritime Partners Trading Down 3.3%

NYSE:NMM opened at $64.63 on Friday. Navios Maritime Partners has a 12-month low of $28.37 and a 12-month high of $74.21. The firm has a market cap of $1.85 billion, a PE ratio of 6.73 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average price of $62.61 and a 200 day moving average price of $54.14.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. The company had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.Navios Maritime Partners’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $2.61 EPS. Sell-side analysts anticipate that Navios Maritime Partners will post 12.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NMM. ION Fund Management Ltd acquired a new position in Navios Maritime Partners in the fourth quarter valued at approximately $24,432,000. Marnell Management LLC acquired a new stake in shares of Navios Maritime Partners during the 4th quarter worth approximately $5,027,000. ING Groep NV lifted its holdings in shares of Navios Maritime Partners by 123.6% in 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 during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Navios Maritime Partners by 150.9% in the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock worth $4,589,000 after purchasing an additional 52,651 shares during the last quarter. Finally, Millennium Management LLC acquired a new position in Navios Maritime Partners during the 4th quarter valued at approximately $1,507,000. 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.