BidaskClub downgraded shares of Navios Maritime Partners LP (NYSE:NMM) from a hold rating to a sell rating in a research note issued to investors on Thursday.

A number of other brokerages also recently issued reports on NMM. Zacks Investment Research downgraded Navios Maritime Partners from a buy rating to a hold rating in a report on Friday, April 28th. Citigroup Inc. boosted their price target on Navios Maritime Partners from $2.00 to $2.25 and gave the company a neutral rating in a report on Tuesday, April 25th. Jefferies Group LLC assumed coverage on Navios Maritime Partners in a report on Monday, June 5th. They set a buy rating and a $2.00 price target on the stock. Finally, Stifel Nicolaus restated a hold rating and set a $2.25 price target on shares of Navios Maritime Partners in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $2.19.

Navios Maritime Partners (NMM) traded up 4.60% during midday trading on Thursday, reaching $1.82. The company had a trading volume of 1,662,896 shares. The company has a 50-day moving average price of $1.60 and a 200-day moving average price of $1.80. The stock’s market capitalization is $273.81 million. Navios Maritime Partners has a one year low of $1.15 and a one year high of $2.94.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, July 27th. The shipping company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Navios Maritime Partners had a positive return on equity of 2.67% and a negative net margin of 19.50%. The company had revenue of $50.02 million during the quarter, compared to analyst estimates of $44.37 million. During the same quarter in the previous year, the company posted $0.05 EPS. 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 $0.04 earnings per share for the current year.

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Several hedge funds have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Navios Maritime Partners during the fourth quarter valued at $109,000. Nine Chapters Capital Management LLC bought a new stake in Navios Maritime Partners during the first quarter valued at $125,000. UBS Group AG increased its stake in Navios Maritime Partners by 39.3% in the first quarter. UBS Group AG now owns 84,975 shares of the shipping company’s stock valued at $176,000 after buying an additional 23,989 shares during the last quarter. Two Sigma Investments LP increased its stake in Navios Maritime Partners by 98.8% in the fourth quarter. Two Sigma Investments LP now owns 185,507 shares of the shipping company’s stock valued at $262,000 after buying an additional 92,209 shares during the last quarter. Finally, Sanders Morris Harris Inc. increased its stake in Navios Maritime Partners by 134.3% in the first quarter. Sanders Morris Harris Inc. now owns 282,650 shares of the shipping company’s stock valued at $585,000 after buying an additional 162,000 shares during the last quarter. Institutional investors own 19.21% 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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