Navios Maritime Partners (NYSE:NMM) Reaches New 1-Year High – What’s Next?

Navios Maritime Partners LP (NYSE:NMM) shares hit a new 52-week high on Wednesday . The company traded as high as $57.29 and last traded at $57.1560, with a volume of 20428 shares changing hands. The stock had previously closed at $56.02.

Analyst Upgrades and Downgrades

A number of analysts have commented on NMM shares. Wall Street Zen raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Navios Maritime Partners in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

Navios Maritime Partners Price Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a fifty day simple moving average of $52.89 and a 200-day simple moving average of $47.50. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 6.53 and a beta of 1.34.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Tuesday, November 18th. The shipping company reported $2.83 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.28. Navios Maritime Partners had a net margin of 20.04% and a return on equity of 8.69%. The firm had revenue of $346.92 million during the quarter, compared to analyst estimates of $334.64 million. During the same period in the previous year, the firm earned $3.15 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Navios Maritime Partners LP will post 12.64 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, November 10th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.29%.

Institutional Trading of Navios Maritime Partners

Several large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP acquired a new position in Navios Maritime Partners during the 2nd quarter worth about $47,000. TD Waterhouse Canada Inc. purchased a new stake in shares of Navios Maritime Partners during the second quarter worth $62,000. Cerity Partners LLC acquired a new stake in shares of Navios Maritime Partners in the second quarter valued at $212,000. Aristides Capital LLC purchased a new position in Navios Maritime Partners in the second quarter valued at $228,000. Finally, Blackhawk Capital Partners LLC acquired a new position in Navios Maritime Partners during the 3rd quarter worth $247,000. 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 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.