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

Shares of Navios Maritime Partners LP (NYSE:NMM) reached a new 52-week high on Friday . The company traded as high as $58.35 and last traded at $57.8370, with a volume of 30393 shares. The stock had previously closed at $56.62.

Wall Street Analyst Weigh In

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

Navios Maritime Partners Stock Up 2.0%

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $1.71 billion, a price-to-earnings ratio of 6.62 and a beta of 1.34. The firm has a 50 day simple moving average of $53.41 and a two-hundred day simple moving average of $48.13.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Tuesday, November 18th. The shipping company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.28. The company had revenue of $346.92 million during the quarter, compared to analyst estimates of $334.64 million. Navios Maritime Partners had a return on equity of 8.69% and a net margin of 20.04%.The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.15 EPS. As a group, sell-side analysts expect that Navios Maritime Partners LP will post 12.64 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Monday, November 10th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, November 10th. Navios Maritime Partners’s dividend payout ratio is presently 2.29%.

Hedge Funds Weigh In On Navios Maritime Partners

Several institutional investors and hedge funds have recently made changes to their positions in NMM. Merrion Investment Management Co LLC raised its stake in Navios Maritime Partners by 0.4% during the 3rd quarter. Merrion Investment Management Co LLC now owns 65,250 shares of the shipping company’s stock worth $2,940,000 after buying an additional 250 shares during the period. Live Oak Investment Partners raised its position in shares of Navios Maritime Partners by 1.3% during the second quarter. Live Oak Investment Partners now owns 28,537 shares of the shipping company’s stock worth $1,075,000 after purchasing an additional 375 shares during the period. Raymond James Financial Inc. raised its position in shares of Navios Maritime Partners by 5.6% during the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after purchasing an additional 380 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Navios Maritime Partners by 0.8% during the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock valued at $4,175,000 after purchasing an additional 750 shares in the last quarter. Finally, Allworth Financial LP acquired a new position in shares of Navios Maritime Partners in the 2nd quarter valued at approximately $47,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

About Navios Maritime Partners

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.