Navios Maritime Partners (NYSE:NMM) Raised to Buy at Wall Street Zen

Navios Maritime Partners (NYSE:NMM) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Navios Maritime Partners in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Navios Maritime Partners has a consensus rating of “Hold”.

Navios Maritime Partners Trading Down 0.2%

NYSE NMM opened at $68.14 on Friday. Navios Maritime Partners has a 52 week low of $28.37 and a 52 week high of $69.85. The business has a 50 day moving average price of $57.03 and a 200-day moving average price of $51.37. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 7.09 and a beta of 1.38.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.28%. The business had revenue of $365.55 million during the quarter, compared to analyst estimates of $316.00 million. During the same quarter in the previous year, the business posted $2.61 EPS. Navios Maritime Partners’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities analysts expect that Navios Maritime Partners will post 12.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC purchased a new stake in Navios Maritime Partners in the 4th quarter valued at about $207,000. Empowered Funds LLC purchased a new position in shares of Navios Maritime Partners in the 4th quarter worth approximately $329,000. XTX Topco Ltd bought a new position in shares of Navios Maritime Partners in the fourth quarter valued at approximately $368,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $572,000. Finally, Millennium Management LLC bought a new stake in Navios Maritime Partners during the fourth quarter worth $1,507,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

Navios Maritime Partners Company 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.