Navios Maritime Partners (NYSE:NMM) Upgraded at StockNews.com

StockNews.com upgraded shares of Navios Maritime Partners (NYSE:NMM) from a hold rating to a buy rating in a report published on Tuesday.

Navios Maritime Partners Trading Up 0.7 %

Shares of Navios Maritime Partners stock opened at $40.19 on Tuesday. The company has a fifty day simple moving average of $43.24 and a 200-day simple moving average of $49.86. Navios Maritime Partners has a 12-month low of $37.87 and a 12-month high of $65.89. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 3.35 and a beta of 1.87.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, February 13th. The shipping company reported $2.61 EPS for the quarter, missing the consensus estimate of $4.54 by ($1.93). Navios Maritime Partners had a net margin of 27.53% and a return on equity of 11.64%. The business had revenue of $302.99 million during the quarter, compared to analysts’ expectations of $340.83 million. On average, equities analysts forecast that Navios Maritime Partners will post 12.64 EPS for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.50%. Navios Maritime Partners’s payout ratio is currently 1.67%.

Hedge Funds Weigh In On Navios Maritime Partners

Several hedge funds have recently added to or reduced their stakes in the business. Ion Asset Management Ltd. grew its holdings in Navios Maritime Partners by 81.9% in the fourth quarter. Ion Asset Management Ltd. now owns 805,678 shares of the shipping company’s stock valued at $34,878,000 after purchasing an additional 362,678 shares during the period. Main Street Financial Solutions LLC lifted its position in shares of Navios Maritime Partners by 1.6% during the third quarter. Main Street Financial Solutions LLC now owns 762,929 shares of the shipping company’s stock worth $47,782,000 after purchasing an additional 12,094 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Navios Maritime Partners by 38.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 160,834 shares of the shipping company’s stock worth $6,963,000 after purchasing an additional 44,576 shares in the last quarter. Natixis lifted its position in shares of Navios Maritime Partners by 0.3% during the fourth quarter. Natixis now owns 124,727 shares of the shipping company’s stock worth $5,399,000 after purchasing an additional 397 shares in the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of Navios Maritime Partners by 2.6% during the fourth quarter. Moors & Cabot Inc. now owns 76,031 shares of the shipping company’s stock worth $3,291,000 after purchasing an additional 1,901 shares in the last quarter. 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. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.