Navios Maritime Partners LP (NMM) Issues Earnings Results
Navios Maritime Partners LP (NYSE:NMM) released its earnings results on Thursday, July 27th. The shipping company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02, Briefing.com reports. The firm had revenue of $50.02 million during the quarter, compared to the consensus estimate of $44.37 million. Navios Maritime Partners had a positive return on equity of 2.67% and a negative net margin of 19.50%. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 earnings per share.
Navios Maritime Partners (NYSE NMM) traded down 1.08% during trading on Friday, hitting $1.84. 668,347 shares of the stock were exchanged. The stock has a 50 day moving average price of $1.61 and a 200-day moving average price of $1.80. The firm’s market capitalization is $276.82 million. Navios Maritime Partners has a 12-month low of $1.15 and a 12-month high of $2.94.
Several research analysts have issued reports on the company. Zacks Investment Research raised Navios Maritime Partners from a “sell” rating to a “hold” rating in a report on Wednesday. BidaskClub raised Navios Maritime Partners from a “sell” rating to a “hold” rating in a report on Wednesday. Stifel Nicolaus reissued a “hold” rating and set a $2.25 target price on shares of Navios Maritime Partners in a research note on Friday, June 23rd. Jefferies Group LLC began coverage on shares of Navios Maritime Partners in a research note on Monday, June 5th. They set a “buy” rating and a $2.00 target price on the stock. Finally, Citigroup Inc. boosted their target price on shares of Navios Maritime Partners from $2.00 to $2.25 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $2.19.
Hedge funds have recently bought and sold shares of the company. Evermore Global Advisors LLC increased its stake in Navios Maritime Partners by 19.8% in the second quarter. Evermore Global Advisors LLC now owns 7,134,433 shares of the shipping company’s stock worth $11,344,000 after buying an additional 1,177,833 shares during the period. Credit Suisse AG acquired a new position in shares of Navios Maritime Partners during the first quarter worth $1,780,000. Raging Capital Management LLC acquired a new position in shares of Navios Maritime Partners during the first quarter worth $8,043,000. Sound Point Capital Management LP acquired a new position in shares of Navios Maritime Partners during the first quarter worth $2,103,000. Finally, Renaissance Technologies LLC raised its position in shares of Navios Maritime Partners by 905.0% in the first quarter. Renaissance Technologies LLC now owns 776,808 shares of the shipping company’s stock worth $1,608,000 after buying an additional 699,514 shares in the last quarter. Institutional investors and hedge funds own 19.21% of the company’s stock.
Navios Maritime Partners 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.
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