Navios Maritime Partners (NYSE:NMM) Issues Quarterly Earnings Results

Navios Maritime Partners (NYSE:NMM) posted its quarterly earnings results on Thursday. The shipping company reported $4.65 EPS for the quarter, topping the consensus estimate of $4.35 by $0.30, Zacks reports. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%.

Navios Maritime Partners Stock Up 1.0%

Shares of NYSE:NMM opened at $83.54 on Thursday. The company has a market capitalization of $2.40 billion, a PE ratio of 7.04 and a beta of 1.02. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. Navios Maritime Partners has a twelve month low of $42.90 and a twelve month high of $84.31. The firm has a 50 day simple moving average of $75.63 and a 200-day simple moving average of $70.98.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 2.02%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NMM. Weiss Ratings cut shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. Jefferies Financial Group started coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price on the stock. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $85.00.

Insider Activity at Navios Maritime Partners

In related news, insider Angeliki Frangou purchased 1,208 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were purchased at an average cost of $68.88 per share, for a total transaction of $83,207.04. Following the purchase, the insider directly owned 4,757,419 shares of the company’s stock, valued at $327,691,020.72. The trade was a 0.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 59,066 shares of company stock valued at $4,379,987.

Institutional Trading of Navios Maritime Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Navios Maritime Partners by 64.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock valued at $672,000 after purchasing an additional 7,006 shares during the period. Jump Financial LLC acquired a new stake in shares of Navios Maritime Partners in the second quarter valued at approximately $580,000. Cerity Partners LLC acquired a new stake in shares of Navios Maritime Partners in the second quarter valued at approximately $212,000. BNP Paribas Financial Markets grew its position in shares of Navios Maritime Partners by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after acquiring an additional 1,559 shares during the last quarter. Finally, Ion Asset Management Ltd. grew its position in shares of Navios Maritime Partners by 2.2% during the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after acquiring an additional 17,285 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Navios Maritime Partners Company 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.