Navios Maritime Partners (NYSE:NMM) Hits New 52-Week High – Here’s Why

Navios Maritime Partners LP (NYSE:NMM) shares hit a new 52-week high during trading on Thursday . The company traded as high as $92.54 and last traded at $91.8750, with a volume of 12474 shares changing hands. The stock had previously closed at $91.39.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Jefferies Financial Group lifted their price objective on Navios Maritime Partners from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Navios Maritime Partners in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Navios Maritime Partners Trading Up 1.0%

The firm’s 50 day simple moving average is $79.71 and its two-hundred day simple moving average is $73.28. The stock has a market capitalization of $2.64 billion, a P/E ratio of 6.03 and a beta of 0.99. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Thursday, August 27th. The shipping company reported $4.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.35 by $0.30. The company had revenue of $410.17 million for 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 12.24%. During the same quarter in the prior year, the firm earned $2.15 EPS. The business’s revenue was up 25.2% on a year-over-year basis.

Navios Maritime Partners Announces Dividend

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

Insider Buying and Selling

In other news, insider Angeliki Frangou bought 1,062 shares of the stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $79.16 per share, with a total value of $84,067.92. Following the completion of the transaction, the insider directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased a total of 47,484 shares of company stock valued at $3,546,473 over the last ninety days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC grew its holdings in shares of Navios Maritime Partners by 2.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 18,381 shares of the shipping company’s stock valued at $1,288,000 after buying an additional 375 shares during the last quarter. Empowered Funds LLC lifted its position in Navios Maritime Partners by 74.1% in the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock valued at $736,000 after acquiring an additional 4,644 shares in the last quarter. Bank of America Corp DE boosted its stake 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 valued at $13,438,000 after purchasing an additional 72,754 shares during the last quarter. Sei Investments Co. bought a new stake in Navios Maritime Partners during the 1st quarter worth approximately $1,889,000. Finally, Walleye Capital LLC raised its stake in shares of Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after purchasing an additional 149,858 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

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.