Navios Maritime Partners L.P. (NYSE:NMM) Short Interest Up 60.9% in November

Navios Maritime Partners L.P. (NYSE:NMM) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 299,200 shares, a growth of 60.9% from the October 31st total of 185,900 shares. Currently, 1.7% of the shares of the company are short sold. Based on an average trading volume of 216,700 shares, the short-interest ratio is presently 1.4 days.

Hedge Funds Weigh In On Navios Maritime Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of Navios Maritime Partners by 21.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock worth $135,000 after purchasing an additional 384 shares in the last quarter. Merrion Investment Management Co LLC bought a new stake in Navios Maritime Partners during the third quarter worth about $401,000. Virtu Financial LLC acquired a new stake in Navios Maritime Partners during the first quarter worth about $452,000. Consolidated Portfolio Review Corp bought a new position in Navios Maritime Partners in the 3rd quarter valued at about $935,000. Finally, Corsair Capital Management L.P. bought a new position in Navios Maritime Partners in the 3rd quarter valued at about $1,000,000. 62.74% of the stock is owned by institutional investors and hedge funds.

Navios Maritime Partners Trading Up 0.7 %

NMM stock opened at $47.91 on Friday. Navios Maritime Partners has a 52 week low of $24.51 and a 52 week high of $65.89. The company has a market capitalization of $1.43 billion, a PE ratio of 3.64 and a beta of 1.99. The company’s 50-day simple moving average is $56.55 and its 200 day simple moving average is $52.16. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). Navios Maritime Partners had a return on equity of 13.86% and a net margin of 30.48%. The business had revenue of $340.84 million for the quarter, compared to analyst estimates of $326.32 million. During the same quarter in the previous year, the company earned $2.68 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Navios Maritime Partners will post 12.37 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

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

Analysts Set New Price Targets

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

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.