Navios Maritime Partners (NYSE:NMM) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Navios Maritime Partners LP (NYSE:NMM) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $76.37 and traded as high as $92.96. Navios Maritime Partners shares last traded at $90.1150, with a volume of 178,483 shares traded.

Wall Street Analysts Forecast Growth

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

Navios Maritime Partners Price Performance

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 stock has a 50 day simple moving average of $86.39 and a two-hundred day simple moving average of $76.60. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 5.99 and a beta of 1.05.

Navios Maritime Partners (NYSE:NMM) last posted its 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 company had revenue of $410.17 million for the quarter, compared to analyst estimates of $360.83 million. Navios Maritime Partners had a net margin of 30.27% and a return on equity of 12.24%. Navios Maritime Partners’s revenue was up 25.2% on a year-over-year basis. During the same period in the previous 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. Shareholders of record on Monday, August 10th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.24 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is 1.57%.

Insider Buying and Selling

In other Navios Maritime Partners news, insider Angeliki Frangou acquired 1,062 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was purchased at an average cost of $79.16 per share, with a total value of $84,067.92. Following the transaction, the insider owned 4,790,901 shares of the company’s stock, valued at $379,247,723.16. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders acquired a total of 26,573 shares of company stock valued at $2,043,800 in the last quarter.

Hedge Funds Weigh In On Navios Maritime Partners

A number of hedge funds have recently made changes to their positions in NMM. Bank of America Corp DE lifted its stake in Navios Maritime Partners by 57.6% during the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after purchasing an additional 72,754 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after acquiring an additional 149,858 shares in the last quarter. ING Groep NV boosted its holdings in Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after purchasing an additional 49,900 shares during the period. Marnell Management LLC purchased a new position in Navios Maritime Partners in the fourth quarter valued at $5,027,000. Finally, Sei Investments Co. acquired a new position in Navios Maritime Partners during the 1st quarter worth $1,889,000. Hedge funds and other 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.