Shares of Navios Maritime Partners LP (NYSE:NMM – Get Free Report) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $62.90 and traded as high as $72.29. Navios Maritime Partners shares last traded at $71.56, with a volume of 78,891 shares.
Analyst Ratings Changes
NMM has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Finally, Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.
Read Our Latest Stock Report on Navios Maritime Partners
Navios Maritime Partners Price Performance
Navios Maritime Partners (NYSE:NMM – Get Free Report) last posted its earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping the consensus estimate of $2.77 by $0.58. The company had revenue of $357.01 million during the quarter, compared to the consensus estimate of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 earnings per share.
Navios Maritime Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Monday, May 11th were paid a $0.06 dividend. The ex-dividend date was Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is presently 2.02%.
Insider Buying and Selling at Navios Maritime Partners
In other news, insider Angeliki Frangou acquired 1,156 shares of Navios Maritime Partners stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average cost of $72.14 per share, for a total transaction of $83,393.84. Following the completion of the purchase, the insider owned 4,737,736 shares of the company’s stock, valued at $341,780,275.04. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired 54,003 shares of company stock valued at $3,850,238 in the last ninety days.
Hedge Funds Weigh In On Navios Maritime Partners
Large investors have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. Valley Wealth Managers Inc. acquired a new stake in shares of Navios Maritime Partners during the 1st quarter valued at about $63,000. State of Wyoming acquired a new stake in shares of Navios Maritime Partners during the 4th quarter valued at about $137,000. Corient Private Wealth LLC acquired a new stake in shares of Navios Maritime Partners during the 4th quarter valued at about $207,000. Finally, Mariner LLC acquired a new stake in shares of Navios Maritime Partners during the 4th quarter valued at about $208,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.
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.
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