Navios Maritime Partners L.P. (NYSE:NMM) Sees Significant Drop in Short Interest

Navios Maritime Partners L.P. (NYSE:NMM) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totalling 251,200 shares, a decline of 22.8% from the March 15th total of 325,200 shares. Currently, 1.4% of the company’s shares are short sold. Based on an average daily trading volume, of 158,700 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Trading of Navios Maritime Partners

Several large investors have recently added to or reduced their stakes in NMM. Jump Financial LLC purchased a new stake in shares of Navios Maritime Partners in the 3rd quarter worth about $215,000. Moors & Cabot Inc. lifted its holdings in Navios Maritime Partners by 5.4% in the third quarter. Moors & Cabot Inc. now owns 19,400 shares of the shipping company’s stock worth $449,000 after buying an additional 1,000 shares during the period. Envestnet Asset Management Inc. bought a new stake in Navios Maritime Partners during the 2nd quarter valued at approximately $234,000. Atria Wealth Solutions Inc. purchased a new position in shares of Navios Maritime Partners during the 2nd quarter worth approximately $206,000. Finally, Stifel Financial Corp purchased a new position in shares of Navios Maritime Partners during the 3rd quarter worth approximately $206,000. Institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Trading Down 0.9 %

Shares of NMM stock traded down $0.38 during mid-day trading on Monday, reaching $42.57. The stock had a trading volume of 90,574 shares, compared to its average volume of 156,701. The firm has a market capitalization of $1.28 billion, a PE ratio of 3.02 and a beta of 1.97. The stock’s 50-day moving average price is $37.88 and its two-hundred day moving average price is $29.83. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.57. Navios Maritime Partners has a 52-week low of $19.23 and a 52-week high of $45.88.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Tuesday, February 13th. The shipping company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $1.74. Navios Maritime Partners had a return on equity of 14.74% and a net margin of 33.18%. The company had revenue of $327.50 million for the quarter, compared to analysts’ expectations of $322.00 million. During the same period last year, the firm earned $3.66 earnings per share. Navios Maritime Partners’s quarterly revenue was down 11.7% on a year-over-year basis. Equities analysts expect that Navios Maritime Partners will post 14.43 earnings per share for the current fiscal year.

Navios Maritime Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Monday, February 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Friday, February 9th. Navios Maritime Partners’s payout ratio is 1.42%.

Navios Maritime Partners Company Profile

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