Zacks Investment Research downgraded shares of Navios Maritime Partners LP (NYSE:NMM) from a buy rating to a hold rating in a research report released on Thursday morning.

According to Zacks, “Navios Maritime Partners L.P. is an international owner and operator of dry cargo vessels. It engages in the seaborne transportation services of drybulk commodities including iron ore, coal, grains, fertilizers and chartering of its vessels under medium to long-term charters. Navios Maritime Partners L.P. is headquartered in Piraeus, Greece. “

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus reiterated a hold rating and issued a $2.25 price objective on shares of Navios Maritime Partners in a research note on Friday, June 23rd. BidaskClub upgraded Navios Maritime Partners from a sell rating to a hold rating in a research note on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus price target of $2.19.

Navios Maritime Partners (NMM) traded up 1.45% during mid-day trading on Thursday, hitting $2.10. The stock had a trading volume of 257,005 shares. Navios Maritime Partners has a 1-year low of $1.15 and a 1-year high of $2.94. The firm’s 50-day moving average price is $2.11 and its 200-day moving average price is $1.86. The stock’s market cap is $315.93 million.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, July 27th. The shipping company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.01 by $0.02. Navios Maritime Partners had a positive return on equity of 2.60% and a negative net margin of 19.50%. The business had revenue of $50.02 million for the quarter, compared to the consensus estimate of $44.37 million. During the same quarter in the prior year, the business earned $0.05 earnings per share. Navios Maritime Partners’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts expect that Navios Maritime Partners will post $0.06 earnings per share for the current year.

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Several large investors have recently bought and sold shares of the business. Evermore Global Advisors LLC lifted its position in shares of Navios Maritime Partners by 19.8% during the second quarter. Evermore Global Advisors LLC now owns 7,134,433 shares of the shipping company’s stock worth $11,344,000 after acquiring an additional 1,177,833 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Navios Maritime Partners by 182.8% during the first quarter. JPMorgan Chase & Co. now owns 1,501,072 shares of the shipping company’s stock worth $3,108,000 after acquiring an additional 970,357 shares in the last quarter. Sound Point Capital Management LP lifted its position in shares of Navios Maritime Partners by 7.7% during the second quarter. Sound Point Capital Management LP now owns 1,094,891 shares of the shipping company’s stock worth $1,741,000 after acquiring an additional 78,743 shares in the last quarter. Credit Suisse AG purchased a new stake in shares of Navios Maritime Partners during the first quarter worth $1,780,000. Finally, Renaissance Technologies LLC lifted its position in shares of Navios Maritime Partners by 905.0% during the first quarter. Renaissance Technologies LLC now owns 776,808 shares of the shipping company’s stock worth $1,608,000 after acquiring an additional 699,514 shares in the last quarter. Hedge funds and other institutional investors own 17.12% of the company’s stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.

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