Navios Maritime Partners (NYSE:NMM) Trading Down 3.8% – Here’s What Happened

Navios Maritime Partners L.P. (NYSE:NMM) shares traded down 3.8% during mid-day trading on Monday . The company traded as low as $49.21 and last traded at $49.82. 71,487 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 182,736 shares. The stock had previously closed at $51.80.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group upped their price target on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. StockNews.com upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st.

Navios Maritime Partners Trading Up 0.6 %

The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.49. The firm’s 50-day simple moving average is $56.88 and its 200 day simple moving average is $52.22. The stock has a market capitalization of $1.43 billion, a P/E ratio of 3.62 and a beta of 1.99.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.80 by ($0.65). The business had revenue of $340.84 million during the quarter, compared to analyst estimates of $326.32 million. Navios Maritime Partners had a return on equity of 13.86% and a net margin of 30.48%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.68 EPS. Equities research analysts anticipate that Navios Maritime Partners L.P. will post 12.37 EPS for the current fiscal year.

Navios Maritime Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.05 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.42%. Navios Maritime Partners’s dividend payout ratio is 1.52%.

Institutional Trading of Navios Maritime Partners

Institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in Navios Maritime Partners by 21.8% during the third quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock valued at $135,000 after acquiring an additional 384 shares in the last quarter. Merrion Investment Management Co LLC acquired a new stake in shares of Navios Maritime Partners in the third quarter valued at about $401,000. Tactive Advisors LLC bought a new position in shares of Navios Maritime Partners in the first quarter worth about $442,000. Virtu Financial LLC bought a new position in Navios Maritime Partners in the 1st quarter worth approximately $452,000. Finally, Consolidated Portfolio Review Corp acquired a new position in shares of Navios Maritime Partners during the third quarter valued at about $935,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

About Navios Maritime Partners

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.