Navios Maritime Partners (NYSE:NMM) Price Target Raised to $100.00

Navios Maritime Partners (NYSE:NMM) had its price target boosted by Jefferies Financial Group from $85.00 to $100.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the shipping company’s stock.

Separately, Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Navios Maritime Partners Trading Down 6.0%

Shares of NMM opened at $85.38 on Monday. Navios Maritime Partners has a 1-year low of $43.02 and a 1-year high of $91.96. The company has a market capitalization of $2.45 billion, a P/E ratio of 5.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The firm’s 50 day simple moving average is $77.06 and its 200 day simple moving average is $71.97.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, August 20th. The shipping company reported $4.65 EPS for the quarter, topping analysts’ consensus estimates of $4.35 by $0.30. The business had revenue of $410.17 million during the quarter, compared to analysts’ expectations of $360.83 million. Navios Maritime Partners had a net margin of 30.27% and a return on equity of 12.48%. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.15 EPS.

Navios Maritime Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, August 10th. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 1.57%.

Insiders Place Their Bets

In other news, insider Angeliki Frangou bought 1,062 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was acquired at an average price of $79.16 per share, with a total value of $84,067.92. Following the completion of the purchase, the insider directly owned 4,790,901 shares in the company, valued at $379,247,723.16. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders purchased 54,530 shares of company stock valued at $4,049,895.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. ION Fund Management Ltd bought a new stake in shares of Navios Maritime Partners in the 4th quarter valued at about $24,432,000. Walleye Capital LLC boosted its holdings in Navios Maritime Partners by 45,274.3% during the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after acquiring an additional 149,858 shares during the period. Marnell Management LLC bought a new position in Navios Maritime Partners during the 4th quarter worth approximately $5,027,000. Bank of America Corp DE grew its position in Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after acquiring an additional 72,754 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Navios Maritime Partners by 150.9% during the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock worth $4,589,000 after acquiring an additional 52,651 shares during the last quarter. 62.74% of the stock is owned by hedge funds and other institutional investors.

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.