Navios Maritime Partners (NYSE:NMM) Upgraded by StockNews.com to “Buy”

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

Navios Maritime Partners Price Performance

Shares of Navios Maritime Partners stock traded down $1.25 during trading on Wednesday, hitting $53.66. 236,315 shares of the stock traded hands, compared to its average volume of 168,266. 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 stock has a market cap of $1.62 billion, a price-to-earnings ratio of 4.05 and a beta of 1.95. The firm’s fifty day moving average is $48.77 and its 200-day moving average is $44.21. Navios Maritime Partners has a 52 week low of $20.92 and a 52 week high of $55.09.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Tuesday, August 20th. The shipping company reported $3.06 EPS for the quarter, beating the consensus estimate of $2.84 by $0.22. The firm had revenue of $342.20 million for the quarter, compared to analyst estimates of $312.39 million. Navios Maritime Partners had a return on equity of 14.41% and a net margin of 30.99%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.32 EPS. Research analysts expect that Navios Maritime Partners will post 14.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets grew its position in Navios Maritime Partners by 30,700.0% during the 1st quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock worth $53,000 after acquiring an additional 1,228 shares during the last quarter. Westhampton Capital LLC bought a new position in Navios Maritime Partners during the 1st quarter worth approximately $241,000. Aristides Capital LLC bought a new position in Navios Maritime Partners during the 1st quarter worth approximately $361,000. Tactive Advisors LLC bought a new position in Navios Maritime Partners during the 1st quarter worth approximately $442,000. Finally, Virtu Financial LLC bought a new position in Navios Maritime Partners during the 1st quarter worth approximately $452,000. 62.74% of the stock is currently owned by 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.