Navios Maritime Partners (NYSE:NMM) Hits New 1-Year High – What’s Next?

Shares of Navios Maritime Partners LP (NYSE:NMM) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $74.21 and last traded at $71.69, with a volume of 29157 shares traded. The stock had previously closed at $72.16.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on NMM shares. Wall Street Zen raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Sunday, February 22nd. Weiss Ratings restated a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Navios Maritime Partners Stock Performance

The company has a market capitalization of $2.15 billion, a P/E ratio of 7.54 and a beta of 1.31. The business has a 50-day moving average of $58.57 and a 200-day moving average of $52.09. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.03 and a quick ratio of 1.03.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. The business had revenue of $365.55 million for the quarter, compared to analysts’ expectations of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.28%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.61 earnings per share. On average, sell-side analysts anticipate that Navios Maritime Partners LP will post 12.64 EPS for the current year.

Navios Maritime Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, February 9th. Navios Maritime Partners’s dividend payout ratio is 2.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NMM. Royal Bank of Canada raised its holdings in shares of Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after buying an additional 202 shares during the period. Merrion Investment Management Co LLC grew its position in Navios Maritime Partners by 0.4% in the 3rd quarter. Merrion Investment Management Co LLC now owns 65,250 shares of the shipping company’s stock valued at $2,940,000 after acquiring an additional 250 shares during the last quarter. Raymond James Financial Inc. increased its stake in Navios Maritime Partners by 5.6% in the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after purchasing an additional 380 shares during the period. Moors & Cabot Inc. lifted its position in shares of Navios Maritime Partners by 0.8% during the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after purchasing an additional 750 shares during the last quarter. Finally, Allworth Financial LP purchased a new stake in shares of Navios Maritime Partners during the second quarter valued at $47,000. Institutional investors own 62.74% of the company’s stock.

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.