Navios Maritime Partners (NYSE:NMM) Lowered to “Hold” Rating by StockNews.com

StockNews.com cut shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

Separately, Jefferies Financial Group increased their price objective on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

Navios Maritime Partners Stock Down 0.5 %

Shares of NMM opened at $42.56 on Wednesday. The stock has a 50 day moving average price of $51.32 and a 200 day moving average price of $51.92. Navios Maritime Partners has a one year low of $27.47 and a one year high of $65.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 3.23 and a beta of 1.95.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). The business had revenue of $340.84 million for the quarter, compared to analysts’ expectations of $326.32 million. Navios Maritime Partners had a return on equity of 13.66% and a net margin of 30.48%. Navios Maritime Partners’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.68 EPS. Equities research analysts forecast that Navios Maritime Partners will post 12.37 earnings per share for the current fiscal year.

Navios Maritime Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 12th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Tuesday, November 12th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 1.52%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NMM. Virtu Financial LLC purchased a new position in Navios Maritime Partners during the third quarter worth about $511,000. Walleye Capital LLC increased its holdings in shares of Navios Maritime Partners by 4,002.4% during the 3rd quarter. Walleye Capital LLC now owns 35,512 shares of the shipping company’s stock worth $2,224,000 after buying an additional 36,422 shares during the last quarter. Corsair Capital Management L.P. acquired a new stake in shares of Navios Maritime Partners during the 3rd quarter worth approximately $1,000,000. BNP Paribas Financial Markets raised its position in shares of Navios Maritime Partners by 21.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock valued at $135,000 after buying an additional 384 shares during the period. Finally, Pekin Hardy Strauss Inc. grew its position in Navios Maritime Partners by 3.2% in the third quarter. Pekin Hardy Strauss Inc. now owns 27,825 shares of the shipping company’s stock worth $1,743,000 after acquiring an additional 875 shares during the period. Institutional investors and hedge funds own 62.74% of the company’s stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.