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

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

Separately, Jefferies Financial Group boosted their price objective on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, September 19th.

Navios Maritime Partners Trading Down 1.9 %

Shares of NMM stock traded down $0.82 during mid-day trading on Wednesday, reaching $42.35. The stock had a trading volume of 222,607 shares, compared to its average volume of 183,280. The firm has a market capitalization of $1.27 billion, a PE ratio of 3.21 and a beta of 1.95. The stock’s 50-day moving average price is $52.45 and its two-hundred day moving average price is $52.09. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59. Navios Maritime Partners has a 52-week low of $26.81 and a 52-week high of $65.89.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Tuesday, November 5th. The shipping company reported $3.15 EPS for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). The business had revenue of $340.84 million for the quarter, compared to the consensus estimate of $326.32 million. Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.66%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.68 EPS. Equities analysts expect that Navios Maritime Partners will post 12.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors have recently added to or reduced their stakes in the company. Main Street Financial Solutions LLC grew its position in shares of Navios Maritime Partners by 2,977.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 750,835 shares of the shipping company’s stock worth $38,315,000 after buying an additional 726,435 shares during the period. Acadian Asset Management LLC boosted its stake in Navios Maritime Partners by 870.2% during the second quarter. Acadian Asset Management LLC now owns 126,709 shares of the shipping company’s stock worth $6,463,000 after acquiring an additional 113,649 shares in the last quarter. Integrated Investment Consultants LLC purchased a new stake in Navios Maritime Partners in the third quarter worth about $4,208,000. Sei Investments Co. increased its stake in shares of Navios Maritime Partners by 748.2% during the second quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock valued at $2,812,000 after purchasing an additional 48,612 shares in the last quarter. Finally, Ieq Capital LLC purchased a new position in shares of Navios Maritime Partners during the second quarter valued at approximately $2,064,000. Institutional investors 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.