Short Interest in Navios Maritime Partners L.P. (NYSE:NMM) Increases By 22.7%

Navios Maritime Partners L.P. (NYSE:NMM) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 107,600 shares, a growth of 22.7% from the June 30th total of 87,700 shares. Based on an average daily trading volume, of 45,900 shares, the days-to-cover ratio is presently 2.3 days. Approximately 0.1% of the company’s shares are short sold.

Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Navios Maritime Partners from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Wednesday. ValuEngine lowered Navios Maritime Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 2nd.

Shares of Navios Maritime Partners stock traded down $1.09 during trading on Wednesday, hitting $14.22. 81,300 shares of the company were exchanged, compared to its average volume of 46,869. The company has a market capitalization of $169.97 million, a price-to-earnings ratio of 4.31 and a beta of 1.86. Navios Maritime Partners has a 1-year low of $11.43 and a 1-year high of $30.75. The stock has a fifty day moving average price of $15.96. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.08 and a quick ratio of 2.08.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Wednesday, July 31st. The shipping company reported ($0.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.07). Navios Maritime Partners had a positive return on equity of 2.31% and a negative net margin of 2.36%. The company had revenue of $47.75 million for the quarter, compared to analyst estimates of $44.63 million. Sell-side analysts predict that Navios Maritime Partners will post 1.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.44%. The ex-dividend date was Monday, August 5th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 36.36%.

Several large investors have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in shares of Navios Maritime Partners by 983.2% during the 4th quarter. Deutsche Bank AG now owns 1,224,668 shares of the shipping company’s stock valued at $1,039,000 after purchasing an additional 1,111,609 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Navios Maritime Partners by 97.6% during the 4th quarter. Macquarie Group Ltd. now owns 44,409 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 21,937 shares in the last quarter. BlackRock Inc. bought a new position in shares of Navios Maritime Partners during the 2nd quarter valued at about $276,000. Finally, Russell Investments Group Ltd. bought a new position in shares of Navios Maritime Partners during the 2nd quarter valued at about $39,000.

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 dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.

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