Navios Maritime Partners (NYSE:NMM) Shares Pass Above 200-Day Moving Average – What’s Next?

Navios Maritime Partners LP (NYSE:NMM) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $67.51 and traded as high as $74.78. Navios Maritime Partners shares last traded at $74.29, with a volume of 77,162 shares.

Analyst Upgrades and Downgrades

NMM has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a “buy” rating and a $85.00 price objective on the stock. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.00.

Navios Maritime Partners Stock Up 2.5%

The company has a market capitalization of $2.13 billion, a P/E ratio of 6.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The company has a 50 day moving average of $72.59 and a 200-day moving average of $67.51.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.The business had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. During the same quarter in the prior year, the company posted $1.58 EPS. Navios Maritime Partners’s quarterly revenue was up 17.4% compared to the same quarter last year.

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. This is an increase from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.02%.

Insider Buying and Selling

In related news, insider Angeliki Frangou acquired 1,208 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was acquired at an average cost of $68.88 per share, for a total transaction of $83,207.04. Following the acquisition, the insider owned 4,757,419 shares of the company’s stock, valued at $327,691,020.72. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have acquired 64,491 shares of company stock valued at $4,681,522.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC lifted its holdings in Navios Maritime Partners by 74.1% in the first quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after buying an additional 4,644 shares during the period. Bank of America Corp DE lifted its stake in shares of Navios Maritime Partners by 57.6% in the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after purchasing an additional 72,754 shares during the period. Sei Investments Co. purchased a new position in shares of Navios Maritime Partners in the 1st quarter valued at approximately $1,889,000. Walleye Capital LLC boosted its position in shares of Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after purchasing an additional 149,858 shares in the last quarter. Finally, State of Wyoming boosted its position in shares of Navios Maritime Partners by 77.8% during the first quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock valued at $313,000 after purchasing an additional 2,029 shares in the last quarter. 62.74% of the stock is owned by institutional investors.

About Navios Maritime Partners

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.