Navios Maritime Partners LP $NMM Stock Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Navios Maritime Partners LP (NYSE:NMM) by 95.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,884 shares of the shipping company’s stock after purchasing an additional 17,040 shares during the quarter. JPMorgan Chase & Co.’s holdings in Navios Maritime Partners were worth $1,572,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Qube Research & Technologies Ltd acquired a new stake in shares of Navios Maritime Partners in the third quarter worth about $639,000. Moors & Cabot Inc. lifted its position in shares of Navios Maritime Partners by 0.8% in the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after buying an additional 750 shares during the last quarter. Lighthouse Investment Partners LLC lifted its position in shares of Navios Maritime Partners by 92.0% in the third quarter. Lighthouse Investment Partners LLC now owns 52,109 shares of the shipping company’s stock worth $2,348,000 after buying an additional 24,964 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Navios Maritime Partners by 28.8% in the third quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock worth $5,314,000 after buying an additional 26,340 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of Navios Maritime Partners by 5.6% in the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after buying an additional 380 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Insider Transactions at Navios Maritime Partners

In other news, insider Angeliki Frangou purchased 1,289 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were purchased at an average cost of $64.87 per share, for a total transaction of $83,617.43. Following the completion of the purchase, the insider directly owned 4,678,741 shares of the company’s stock, valued at approximately $303,509,928.67. The trade was a 0.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 9,815 shares of company stock worth $672,118 in the last 90 days.

Navios Maritime Partners Trading Up 4.6%

Shares of NMM opened at $72.12 on Thursday. Navios Maritime Partners LP has a 12-month low of $28.37 and a 12-month high of $74.21. The company has a quick ratio of 1.13, a current ratio of 1.12 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 7.50 and a beta of 1.23. The stock’s 50-day moving average price is $65.46 and its 200 day moving average price is $55.96.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The firm had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. During the same period in the previous year, the company posted $2.61 earnings per share. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, research analysts predict that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, February 9th. Navios Maritime Partners’s payout ratio is currently 2.08%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NMM. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Navios Maritime Partners 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.