Navios Maritime Partners (NYSE:NMM) Sets New 52-Week High – Should You Buy?

Navios Maritime Partners LP (NYSE:NMM) reached a new 52-week high on Monday. The company traded as high as $96.22 and last traded at $95.9160, with a volume of 18,707 shares traded. The stock had previously closed at $93.06.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NMM. Weiss Ratings upgraded Navios Maritime Partners from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Jefferies Financial Group boosted their price target on Navios Maritime Partners from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Navios Maritime Partners presently has a consensus rating of “Buy” and an average target price of $100.00.

Navios Maritime Partners Stock Performance

The business has a 50 day moving average of $88.62 and a 200 day moving average of $78.13. The company has a market capitalization of $2.77 billion, a P/E ratio of 6.76 and a beta of 1.05. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.57.

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

Navios Maritime Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.2%. Navios Maritime Partners’s dividend payout ratio (DPR) is 1.57%.

Insiders Place Their Bets

In other Navios Maritime Partners news, insider Angeliki Frangou purchased 1,062 shares of Navios Maritime Partners stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $79.16 per share, for a total transaction of $84,067.92. Following the completion of the transaction, the insider owned 4,790,901 shares of the company’s stock, valued at approximately $379,247,723.16. This trade represents a 0.02% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 18,770 shares of company stock valued at $1,457,662 in the last quarter.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC increased its position in shares of Navios Maritime Partners by 2.1% during the second 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. purchased a new stake in shares of Navios Maritime Partners in the first quarter valued at approximately $63,000. State of Wyoming boosted its holdings in shares of Navios Maritime Partners by 77.8% in the first quarter. State of Wyoming now owns 4,637 shares of the shipping company’s stock valued at $313,000 after purchasing an additional 2,029 shares during the period. Empowered Funds LLC boosted its holdings in shares of Navios Maritime Partners by 74.1% in the first quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock valued at $736,000 after purchasing an additional 4,644 shares during the period. Finally, SG Americas Securities LLC bought a new position in Navios Maritime Partners in the first quarter worth approximately $622,000. Institutional investors own 62.74% of the company’s stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. (NYSE:NMM) is a global owner and operator of commercial vessels. The company provides seaborne transportation services for dry bulk commodities, containerized goods and liquid cargoes through a diversified fleet that includes dry bulk carriers, containerships and tanker vessels.

Its vessels transport commodities such as iron ore, grain, coal and other dry bulk materials, as well as petroleum products, chemicals and other liquid cargoes. Navios Maritime Partners serves international trade routes and works with charterers and customers across major shipping markets worldwide.

Navios Maritime Partners was established in 2007 and is part of the broader Navios group of maritime companies.