StockNews.com Downgrades Navios Maritime Partners (NYSE:NMM) to Hold

Navios Maritime Partners (NYSE:NMM) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Navios Maritime Partners Stock Up 1.1 %

Shares of NYSE NMM traded up $0.48 during trading hours on Tuesday, hitting $45.47. The company had a trading volume of 65,340 shares, compared to its average volume of 161,677. Navios Maritime Partners has a 1-year low of $20.92 and a 1-year high of $53.83. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $49.08 and its 200-day moving average is $43.45. The stock has a market capitalization of $1.37 billion, a P/E ratio of 3.43 and a beta of 1.95.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Tuesday, May 14th. The shipping company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.27. Navios Maritime Partners had a net margin of 30.99% and a return on equity of 14.41%. The company had revenue of $318.60 million for the quarter, compared to analyst estimates of $283.59 million. During the same period in the previous year, the business earned $2.13 EPS. Navios Maritime Partners’s revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts expect that Navios Maritime Partners will post 14.69 earnings per share for the current fiscal year.

Institutional Trading of Navios Maritime Partners

Several hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC acquired a new stake in shares of Navios Maritime Partners during the fourth quarter worth $782,000. Jump Financial LLC raised its position in shares of Navios Maritime Partners by 135.5% in the fourth quarter. Jump Financial LLC now owns 21,900 shares of the shipping company’s stock valued at $612,000 after buying an additional 12,600 shares in the last quarter. Westhampton Capital LLC bought a new stake in shares of Navios Maritime Partners in the first quarter valued at approximately $241,000. Commonwealth Equity Services LLC lifted its position in shares of Navios Maritime Partners by 11.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 129,538 shares of the shipping company’s stock valued at $5,521,000 after acquiring an additional 13,037 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of Navios Maritime Partners by 30,700.0% in the first quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock worth $53,000 after purchasing an additional 1,228 shares during the period. 62.74% of the stock is owned by institutional investors and hedge funds.

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.