Navios Maritime Partners (NYSE:NMM) Posts Earnings Results, Beats Expectations By $0.30 EPS

Navios Maritime Partners (NYSE:NMM) announced its earnings results on Thursday. The shipping company reported $4.65 earnings per share for the quarter, topping the consensus estimate of $4.35 by $0.30, Zacks reports. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%.

Navios Maritime Partners Stock Up 1.0%

Shares of NYSE:NMM opened at $83.54 on Thursday. Navios Maritime Partners has a fifty-two week low of $42.90 and a fifty-two week high of $84.31. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm’s 50-day simple moving average is $75.63 and its 200-day simple moving average is $70.98. The company has a market cap of $2.40 billion, a price-to-earnings ratio of 7.04 and a beta of 1.02.

Navios Maritime Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is presently 2.02%.

Insider Transactions at Navios Maritime Partners

In other news, insider Angeliki Frangou acquired 1,208 shares of Navios Maritime Partners stock in a transaction that occurred on Monday, June 29th. The stock was purchased at an average price of $68.88 per share, for a total transaction of $83,207.04. Following the completion of the transaction, the insider directly owned 4,757,419 shares in the company, valued at approximately $327,691,020.72. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 59,066 shares of company stock worth $4,379,987 over the last three months.

Institutional Trading of Navios Maritime Partners

Several hedge funds have recently modified their holdings of NMM. Royal Bank of Canada grew its holdings in Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after acquiring an additional 202 shares during the period. State of Wyoming acquired a new stake in Navios Maritime Partners in the fourth quarter valued at $137,000. Corient Private Wealth LLC purchased a new stake in shares of Navios Maritime Partners during the 4th quarter worth $207,000. Mariner LLC purchased a new stake in shares of Navios Maritime Partners during the 4th quarter worth $208,000. Finally, Cerity Partners LLC acquired a new position in shares of Navios Maritime Partners during the 2nd quarter worth $212,000. 62.74% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on NMM shares. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a research report on Friday, April 24th. They issued a “buy” rating and a $85.00 price target on the stock. Weiss Ratings downgraded Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Navios Maritime Partners currently has an average rating of “Moderate Buy” and an average target price of $85.00.

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.