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

StockNews.com upgraded shares of Navios Maritime Partners (NYSE:NMM) from a hold rating to a buy rating in a research note published on Thursday morning.

Navios Maritime Partners Stock Performance

Shares of NMM stock opened at $43.89 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.13 and a quick ratio of 1.13. The business has a fifty day moving average of $43.92 and a 200 day moving average of $50.13. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 3.33 and a beta of 1.93. Navios Maritime Partners has a 1 year low of $29.86 and a 1 year high of $65.89.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, February 13th. The shipping company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $4.54 by ($1.93). Navios Maritime Partners had a return on equity of 13.66% and a net margin of 30.48%. As a group, research analysts expect that Navios Maritime Partners will post 11.6 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 1.52%.

Institutional Investors Weigh In On Navios Maritime Partners

Several hedge funds have recently added to or reduced their stakes in NMM. BNP Paribas Financial Markets lifted its holdings in shares of Navios Maritime Partners by 21.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock valued at $135,000 after buying an additional 384 shares during the period. LPL Financial LLC acquired a new position in Navios Maritime Partners in the fourth quarter valued at approximately $204,000. Raymond James Financial Inc. purchased a new stake in Navios Maritime Partners in the 4th quarter worth approximately $219,000. Merrion Investment Management Co LLC grew its stake in shares of Navios Maritime Partners by 56.9% during the 4th quarter. Merrion Investment Management Co LLC now owns 10,040 shares of the shipping company’s stock worth $435,000 after purchasing an additional 3,640 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Navios Maritime Partners during the 3rd quarter valued at approximately $511,000. 62.74% of the stock is 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.