Shares of Navios Maritime Partners L.P. (NYSE:NMM) gapped up before the market opened on Monday after the company announced better than expected quarterly earnings. The stock had previously closed at $1.37, but opened at $1.41. Navios Maritime Partners L.P. shares last traded at $1.54, with a volume of 2,401,586 shares.

The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company earned $50.30 million during the quarter, compared to the consensus estimate of $46.96 million. During the same quarter last year, the company earned $0.13 earnings per share. The business’s revenue was down 11.9% on a year-over-year basis.

A number of analysts have weighed in on the company. Jefferies Group reiterated a “buy” rating on shares of Navios Maritime Partners L.P. in a research report on Tuesday, September 6th. Zacks Investment Research upgraded Navios Maritime Partners L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, August 30th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $3.75.

Several hedge funds have recently made changes to their positions in NMM. Sanders Morris Harris Inc. boosted its stake in shares of Navios Maritime Partners L.P. by 1.5% in the second quarter. Sanders Morris Harris Inc. now owns 133,650 shares of the company’s stock valued at $172,000 after buying an additional 2,000 shares during the last quarter. Stifel Financial Corp boosted its position in Navios Maritime Partners L.P. by 2.5% in the second quarter. Stifel Financial Corp now owns 265,627 shares of the company’s stock valued at $344,000 after buying an additional 6,448 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Navios Maritime Partners L.P. by 29.6% in the third quarter. JPMorgan Chase & Co. now owns 559,225 shares of the company’s stock valued at $777,000 after buying an additional 127,684 shares in the last quarter.

The stock’s 50-day moving average is $1.36 and its 200-day moving average is $1.41. The stock has a market cap of $130.55 million, a price-to-earnings ratio of 44.00 and a beta of 1.74.

Navios Maritime Partners L.P. Company Profile

Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.

5 Day Chart for NYSE:NMM

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