Navios Maritime Partners (NYSE:NMM) Shares Cross Above 200 Day Moving Average – What’s Next?

Navios Maritime Partners LP (NYSE:NMM) shares crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $77.53 and traded as high as $92.64. Navios Maritime Partners shares last traded at $91.7670, with a volume of 114,860 shares changing hands.

Analyst Ratings Changes

NMM has been the subject of several research analyst reports. Weiss Ratings raised shares of Navios Maritime Partners from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Jefferies Financial Group increased their target price on shares of Navios Maritime Partners from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Two investment analysts have rated the stock with a Buy rating. According to MarketBeat.com, Navios Maritime Partners has an average rating of “Buy” and an average price target of $100.00.

Navios Maritime Partners Stock Up 1.1%

The business has a 50 day moving average of $87.95 and a two-hundred day moving average of $77.64. The stock has a market capitalization of $2.67 billion, a PE ratio of 6.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.53 and a current ratio of 1.53.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, August 27th. The shipping company reported $4.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.35 by $0.30. The company had revenue of $410.17 million for the quarter, compared to analyst estimates of $360.83 million. Navios Maritime Partners had a return on equity of 12.24% and a net margin of 30.27%. The firm’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.15 earnings per share.

Navios Maritime Partners Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Angeliki Frangou purchased 1,062 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $79.16 per share, with a total value of $84,067.92. Following the completion of the acquisition, the insider owned 4,790,901 shares of the company’s stock, valued at $379,247,723.16. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have purchased 20,975 shares of company stock valued at $1,624,129 in the last three months.

Institutional Investors Weigh In On Navios Maritime Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NMM. Susquehanna Fundamental Investments LLC raised its position in shares of Navios Maritime Partners by 2.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,381 shares of the shipping company’s stock valued at $1,288,000 after purchasing an additional 375 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Navios Maritime Partners by 74.1% during the first quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after buying an additional 4,644 shares during the period. Bank of America Corp DE grew its holdings in shares of Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after buying an additional 72,754 shares during the last quarter. Sei Investments Co. purchased a new stake in shares of Navios Maritime Partners during the first quarter valued at $1,889,000. Finally, Walleye Capital LLC increased its position in shares of Navios Maritime Partners by 45,274.3% in 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. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE:NMM) is a global owner and operator of commercial vessels. The company provides seaborne transportation services for dry bulk commodities, containerized goods and liquid cargoes through a diversified fleet that includes dry bulk carriers, containerships and tanker vessels.

Its vessels transport commodities such as iron ore, grain, coal and other dry bulk materials, as well as petroleum products, chemicals and other liquid cargoes. Navios Maritime Partners serves international trade routes and works with charterers and customers across major shipping markets worldwide.

Navios Maritime Partners was established in 2007 and is part of the broader Navios group of maritime companies.