Navios Maritime Partners LP $NMM Stock Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its position in Navios Maritime Partners LP (NYSE:NMM) by 95.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,884 shares of the shipping company’s stock after buying an additional 17,040 shares during the period. JPMorgan Chase & Co. owned approximately 0.12% of Navios Maritime Partners worth $1,572,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cerity Partners LLC purchased a new position in shares of Navios Maritime Partners during the second quarter valued at $212,000. Blackhawk Capital Partners LLC purchased a new position in shares of Navios Maritime Partners during the third quarter valued at $247,000. BNP Paribas Financial Markets grew its holdings in shares of Navios Maritime Partners by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock valued at $290,000 after buying an additional 1,559 shares in the last quarter. Raymond James Financial Inc. grew its holdings in shares of Navios Maritime Partners by 5.6% during the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock valued at $324,000 after buying an additional 380 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in shares of Navios Maritime Partners during the second quarter valued at $580,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Stock Performance

Shares of NYSE NMM opened at $72.12 on Thursday. The business’s 50-day moving average price is $65.46 and its two-hundred day moving average price is $55.96. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. Navios Maritime Partners LP has a one year low of $28.37 and a one year high of $74.21. The company has a market capitalization of $2.07 billion, a P/E ratio of 7.50 and a beta of 1.23.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The firm had revenue of $365.55 million for the quarter, compared to the consensus estimate of $316.00 million. During the same quarter in the previous year, the company posted $2.61 earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. Analysts anticipate that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 9th were paid a $0.05 dividend. The ex-dividend date was Monday, February 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. Navios Maritime Partners’s payout ratio is 2.08%.

Insider Buying and Selling

In other news, insider Angeliki Frangou bought 1,289 shares of the stock in a transaction on Monday, March 23rd. The shares were purchased at an average price of $64.87 per share, for a total transaction of $83,617.43. Following the completion of the purchase, the insider directly owned 4,678,741 shares of the company’s stock, valued at $303,509,928.67. This trade represents a 0.03% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought a total of 9,815 shares of company stock valued at $672,118 in the last quarter.

Wall Street Analyst Weigh In

NMM has been the topic of a number of research analyst reports. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Weiss Ratings upgraded Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

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.