Navios Maritime Partners L.P. (NYSE:NMM) Sees Large Decline in Short Interest

Navios Maritime Partners L.P. (NYSE:NMM) was the target of a large drop in short interest in July. As of July 15th, there was short interest totalling 88,400 shares, a drop of 23.5% from the June 30th total of 115,600 shares. Based on an average daily trading volume, of 587,000 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.5% of the shares of the stock are short sold.

NYSE NMM opened at $22.33 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.64 and a quick ratio of 0.64. The stock’s fifty day moving average price is $25.92. The stock has a market capitalization of $442.58 million, a price-to-earnings ratio of 3.08 and a beta of 2.65. Navios Maritime Partners has a 52 week low of $5.51 and a 52 week high of $36.46.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Tuesday, July 27th. The shipping company reported $4.31 EPS for the quarter, topping the consensus estimate of $2.38 by $1.93. Navios Maritime Partners had a net margin of 55.13% and a return on equity of 16.97%. As a group, research analysts anticipate that Navios Maritime Partners will post 11.11 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 12th. Shareholders of record on Monday, August 9th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, August 6th. Navios Maritime Partners’s payout ratio is 22.47%.

A number of hedge funds and other institutional investors have recently bought and sold shares of NMM. Dorsey Wright & Associates purchased a new position in Navios Maritime Partners during the first quarter worth $50,000. NEXT Financial Group Inc bought a new stake in shares of Navios Maritime Partners during the second quarter worth $148,000. Stifel Financial Corp bought a new stake in shares of Navios Maritime Partners during the first quarter worth $205,000. Occudo Quantitative Strategies LP bought a new stake in shares of Navios Maritime Partners during the first quarter worth $498,000. Finally, Millennium Management LLC bought a new stake in shares of Navios Maritime Partners during the first quarter worth $541,000. 8.28% of the stock is owned by institutional investors.

Separately, TheStreet raised shares of Navios Maritime Partners from a “d+” rating to a “c” rating in a report on Friday, April 30th.

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 dry cargo commodities, including iron ore, coal, grain, fertilizers, and containers, as well as charters its vessels under medium to long-term charters.

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