Navios Maritime Partners (NMM) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Navios Maritime Partners (NYSE:NMM) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Navios Maritime Partners L.P. is an international owner and operator of dry cargo vessels. It engages in the seaborne transportation services of drybulk commodities including iron ore, coal, grains, fertilizers and chartering of its vessels under medium to long-term charters. Navios Maritime Partners L.P. is headquartered in Piraeus, Greece. “

A number of other analysts have also commented on NMM. JPMorgan Chase & Co. lowered Navios Maritime Partners from an overweight rating to a neutral rating in a research report on Wednesday. Citigroup boosted their price objective on Navios Maritime Partners from $2.00 to $2.25 and gave the stock a neutral rating in a report on Thursday, November 16th. Jefferies Group initiated coverage on Navios Maritime Partners in a report on Monday, December 18th. They set a buy rating and a $2.00 price objective for the company. Finally, TheStreet raised Navios Maritime Partners from a d+ rating to a c- rating in a report on Wednesday, November 15th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $2.19.

Shares of Navios Maritime Partners (NMM) traded up $0.02 during trading on Wednesday, reaching $2.26. The company had a trading volume of 470,094 shares, compared to its average volume of 1,160,000. Navios Maritime Partners has a twelve month low of $1.45 and a twelve month high of $2.65. The company has a market cap of $340.84, a price-to-earnings ratio of 226.00 and a beta of 1.84. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.39 and a quick ratio of 1.39.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Tuesday, November 14th. The shipping company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.02. Navios Maritime Partners had a return on equity of 2.53% and a net margin of 2.79%. sell-side analysts predict that Navios Maritime Partners will post 0.11 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Macquarie Group Ltd. bought a new stake in Navios Maritime Partners during the 3rd quarter worth approximately $320,000. JPMorgan Chase & Co. boosted its stake in shares of Navios Maritime Partners by 17.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,516,136 shares of the shipping company’s stock worth $3,184,000 after buying an additional 226,982 shares during the last quarter. Sound Point Capital Management LP boosted its stake in shares of Navios Maritime Partners by 7.7% in the 2nd quarter. Sound Point Capital Management LP now owns 1,094,891 shares of the shipping company’s stock worth $1,741,000 after buying an additional 78,743 shares during the last quarter. Virtu KCG Holdings LLC boosted its stake in shares of Navios Maritime Partners by 1.5% in the 2nd quarter. Virtu KCG Holdings LLC now owns 92,494 shares of the shipping company’s stock worth $147,000 after buying an additional 1,324 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Navios Maritime Partners in the 2nd quarter worth approximately $188,000. 15.31% of the stock is owned by hedge funds and other institutional investors.

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Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.

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