Navios Maritime Partners (NYSE:NMM) Stock Price Down 5.4% – Should You Sell?

Navios Maritime Partners L.P. (NYSE:NMM) shares traded down 5.4% during mid-day trading on Wednesday . The company traded as low as $44.56 and last traded at $44.98. 166,728 shares were traded during trading, a decline of 8% from the average session volume of 181,628 shares. The stock had previously closed at $47.55.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. StockNews.com raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group upped their target price on Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, September 19th.

Navios Maritime Partners Stock Down 0.6 %

The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 3.34 and a beta of 1.95. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $53.62 and its two-hundred day moving average is $52.15.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Tuesday, November 5th. The shipping company reported $3.15 earnings per share for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.66%. The firm had revenue of $340.84 million during the quarter, compared to analyst estimates of $326.32 million. During the same period in the prior year, the firm earned $2.68 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. On average, sell-side analysts predict that Navios Maritime Partners L.P. will post 12.37 EPS for the current year.

Navios Maritime Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Tuesday, November 12th. Navios Maritime Partners’s dividend payout ratio (DPR) is 1.52%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its position in shares of Navios Maritime Partners by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 131,707 shares of the shipping company’s stock worth $6,721,000 after buying an additional 2,169 shares during the period. Acadian Asset Management LLC increased its stake in Navios Maritime Partners by 870.2% during the second quarter. Acadian Asset Management LLC now owns 126,709 shares of the shipping company’s stock worth $6,463,000 after acquiring an additional 113,649 shares during the last quarter. Main Street Financial Solutions LLC raised its holdings in shares of Navios Maritime Partners by 2,977.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 750,835 shares of the shipping company’s stock worth $38,315,000 after purchasing an additional 726,435 shares during the period. Moors & Cabot Inc. lifted its stake in shares of Navios Maritime Partners by 37.2% in the 2nd quarter. Moors & Cabot Inc. now owns 71,280 shares of the shipping company’s stock valued at $3,637,000 after purchasing an additional 19,330 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Navios Maritime Partners during the 2nd quarter worth about $1,375,000. 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.