Navios Maritime Partners (NYSE:NMM) Stock Breaks Above 200 Day Moving Average – Here’s What Happened

Navios Maritime Partners LP (NYSE:NMM)’s stock price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $75.31 and traded as high as $89.73. Navios Maritime Partners shares last traded at $88.1280, with a volume of 218,563 shares trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Navios Maritime Partners from $85.00 to $100.00 and gave the company a “buy” rating in a report on Monday, August 24th. Weiss Ratings upgraded shares of Navios Maritime Partners from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Navios Maritime Partners currently has a consensus rating of “Buy” and a consensus target price of $100.00.

Navios Maritime Partners Stock Performance

The stock has a 50 day moving average price of $84.36 and a two-hundred day moving average price of $75.45. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.53 and a quick ratio of 1.53. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 5.88 and a beta of 0.99.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Thursday, August 27th. The shipping company reported $4.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.35 by $0.30. Navios Maritime Partners had a net margin of 30.27% and a return on equity of 12.24%. The business had revenue of $410.17 million for the quarter, compared to the consensus estimate of $360.83 million. During the same quarter in the prior year, the company earned $2.15 EPS. The firm’s quarterly revenue was up 25.2% on a year-over-year basis.

Navios Maritime Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Navios Maritime Partners’s dividend payout ratio is presently 1.57%.

Insider Activity at Navios Maritime Partners

In related news, insider Angeliki Frangou purchased 1,062 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of $79.16 per share, with a total value of $84,067.92. Following the completion of the acquisition, the insider directly owned 4,790,901 shares in the company, valued at approximately $379,247,723.16. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 32,537 shares of company stock worth $2,463,864 over the last quarter.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NMM. Susquehanna Fundamental Investments LLC grew its holdings in Navios Maritime Partners by 2.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,381 shares of the shipping company’s stock worth $1,288,000 after acquiring an additional 375 shares during the period. Valley Wealth Managers Inc. acquired a new position in shares of Navios Maritime Partners in the 1st quarter valued at $63,000. State of Wyoming boosted its position in shares of Navios Maritime Partners by 77.8% in the 1st quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock worth $313,000 after purchasing an additional 2,029 shares during the last quarter. Empowered Funds LLC boosted its position in shares of Navios Maritime Partners by 74.1% in the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after purchasing an additional 4,644 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Navios Maritime Partners during the first quarter worth $622,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE: NMM) is an international owner and operator of commercial vessels. The company provides maritime transportation services through a diversified fleet that includes dry bulk carriers, containerships and tanker vessels.

Its dry bulk ships transport commodities such as iron ore, coal, grain and other bulk cargoes, while its containerships carry manufactured goods and other containerized freight. The tanker fleet transports crude oil, refined petroleum products and other liquid cargoes.