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

StockNews.com downgraded shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a hold rating in a report issued on Friday morning.

Navios Maritime Partners Price Performance

Shares of NMM opened at $43.73 on Friday. The company has a 50 day moving average price of $43.62 and a 200-day moving average price of $50.13. Navios Maritime Partners has a fifty-two week low of $32.42 and a fifty-two week high of $65.89. The stock has a market capitalization of $1.31 billion, a PE ratio of 3.65 and a beta of 1.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.13.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, February 13th. The shipping company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $4.54 by ($1.93). Navios Maritime Partners had a return on equity of 11.64% and a net margin of 27.53%. The business had revenue of $302.99 million during the quarter, compared to analysts’ expectations of $340.83 million. Equities analysts predict that Navios Maritime Partners will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a $0.05 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. Navios Maritime Partners’s payout ratio is presently 1.67%.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds have recently modified their holdings of NMM. Corsair Capital Management L.P. purchased a new stake in Navios Maritime Partners during the third quarter valued at approximately $1,000,000. Consolidated Portfolio Review Corp purchased a new stake in Navios Maritime Partners during the third quarter valued at approximately $935,000. Integrated Investment Consultants LLC purchased a new stake in Navios Maritime Partners during the third quarter valued at approximately $4,208,000. ING Groep NV lifted its position in Navios Maritime Partners by 446.2% during the fourth quarter. ING Groep NV now owns 71,000 shares of the shipping company’s stock valued at $3,074,000 after acquiring an additional 58,000 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its position in Navios Maritime Partners by 4.0% during the third quarter. Moors & Cabot Inc. now owns 74,130 shares of the shipping company’s stock valued at $4,643,000 after acquiring an additional 2,850 shares during the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

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.