Navios Maritime Partners (NYSE:NMM) Sets New 52-Week High – What’s Next?

Navios Maritime Partners LP (NYSE:NMM)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $69.85 and last traded at $68.3240, with a volume of 289352 shares changing hands. The stock had previously closed at $66.59.

Wall Street Analysts Forecast Growth

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

Navios Maritime Partners Stock Performance

The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 7.08 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a 50-day moving average of $56.69 and a 200 day moving average of $51.21.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.99. The company had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.28%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.61 EPS. On average, analysts expect that Navios Maritime Partners LP will post 12.64 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Stockholders of record on Monday, February 9th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, February 9th. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.08%.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in shares of Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 202 shares during the period. Merrion Investment Management Co LLC raised its holdings in Navios Maritime Partners by 0.4% in the third quarter. Merrion Investment Management Co LLC now owns 65,250 shares of the shipping company’s stock worth $2,940,000 after purchasing an additional 250 shares during the period. Raymond James Financial Inc. boosted its position in shares of Navios Maritime Partners by 5.6% during 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 in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Navios Maritime Partners by 0.8% in the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock valued at $4,175,000 after buying an additional 750 shares during the period. Finally, Allworth Financial LP acquired a new position in shares of Navios Maritime Partners in the 2nd quarter valued at $47,000. Institutional investors own 62.74% of the company’s stock.

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.