Navios Maritime Partners (NYSE:NMM) Reaches New 52-Week High – Here’s What Happened

Navios Maritime Partners LP (NYSE:NMM)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $62.01 and last traded at $61.84, with a volume of 132159 shares. The stock had previously closed at $60.22.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on NMM. Wall Street Zen raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. Weiss Ratings restated a “hold (c)” rating on shares of Navios Maritime Partners in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Navios Maritime Partners presently has a consensus rating of “Hold”.

Navios Maritime Partners Price Performance

The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 7.08 and a beta of 1.38. The company’s 50 day moving average is $54.96 and its 200-day moving average is $49.90. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Tuesday, November 18th. The shipping company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.28. Navios Maritime Partners had a return on equity of 8.69% and a net margin of 20.04%.The firm had revenue of $346.92 million for the quarter, compared to analyst estimates of $334.64 million. During the same quarter in the prior year, the company earned $3.15 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 12th. Shareholders of record on Monday, February 9th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.29%.

Hedge Funds Weigh In On Navios Maritime Partners

Several institutional investors and hedge funds have recently modified their holdings of NMM. ING Groep NV lifted its stake in shares of Navios Maritime Partners by 123.6% during the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after buying an additional 53,400 shares during the last quarter. Bank of America Corp DE raised its holdings in Navios Maritime Partners by 28.8% in the 3rd quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock valued at $5,314,000 after acquiring an additional 26,340 shares during the period. Lighthouse Investment Partners LLC lifted its position in Navios Maritime Partners by 92.0% during the third quarter. Lighthouse Investment Partners LLC now owns 52,109 shares of the shipping company’s stock worth $2,348,000 after acquiring an additional 24,964 shares during the last quarter. Arbiter Partners Capital Management LLC bought a new stake in shares of Navios Maritime Partners during the third quarter worth approximately $1,117,000. Finally, Ion Asset Management Ltd. grew its position in shares of Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after purchasing an additional 17,285 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.