Navios Maritime Partners LP $NMM Shares Sold by Ion Asset Management Ltd.

Ion Asset Management Ltd. decreased its holdings in Navios Maritime Partners LP (NYSE:NMM) by 43.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 466,000 shares of the shipping company’s stock after selling 351,963 shares during the quarter. Navios Maritime Partners accounts for approximately 2.3% of Ion Asset Management Ltd.’s investment portfolio, making the stock its 16th largest holding. Ion Asset Management Ltd.’s holdings in Navios Maritime Partners were worth $20,993,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. ING Groep NV increased its holdings in Navios Maritime Partners by 123.6% in the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after purchasing an additional 53,400 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Navios Maritime Partners by 28.8% during the third quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock worth $5,314,000 after purchasing an additional 26,340 shares in the last quarter. Arbiter Partners Capital Management LLC acquired a new position in shares of Navios Maritime Partners during the third quarter worth about $1,117,000. JPMorgan Chase & Co. boosted its position in shares of Navios Maritime Partners by 95.5% in the third quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock worth $1,572,000 after buying an additional 17,040 shares during the period. Finally, Jump Financial LLC purchased a new stake in shares of Navios Maritime Partners in the second quarter worth about $580,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

Navios Maritime Partners Stock Performance

Navios Maritime Partners stock opened at $59.03 on Monday. Navios Maritime Partners LP has a 12-month low of $28.37 and a 12-month high of $74.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 6.14 and a beta of 1.31. The firm’s fifty day moving average price is $61.50 and its 200 day moving average price is $53.59.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $365.55 million during the quarter, compared to the consensus estimate of $316.00 million. During the same period last year, the firm earned $2.61 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. On average, research analysts forecast that Navios Maritime Partners LP will post 12.64 EPS for the current fiscal year.

Navios Maritime Partners Dividend Announcement

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

Analyst Ratings Changes

NMM has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Navios Maritime Partners in a report on Monday, December 29th. Wall Street Zen upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Sunday, February 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Navios Maritime Partners 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.