Navios Maritime Partners (NYSE:NMM) Reaches New 1-Year High – Should You Buy?

Shares of Navios Maritime Partners LP (NYSE:NMM) hit a new 52-week high on Monday . The stock traded as high as $54.52 and last traded at $53.3960, with a volume of 69198 shares traded. The stock had previously closed at $52.48.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Navios Maritime Partners in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Navios Maritime Partners Trading Down 0.8%

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 5.27 and a beta of 1.53. The business’s fifty day moving average price is $47.43 and its 200 day moving average price is $43.47.

Navios Maritime Partners (NYSE:NMM) last announced 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 business 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 9.24% and a net margin of 23.31%.Navios Maritime Partners’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $3.15 EPS. Research analysts anticipate that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Monday, November 10th were issued a $0.05 dividend. The ex-dividend date was Monday, November 10th. This represents a $0.20 annualized dividend and a yield of 0.4%. Navios Maritime Partners’s dividend payout ratio is presently 1.99%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of institutional investors have recently modified their holdings of NMM. Counterpoint Mutual Funds LLC bought a new position in shares of Navios Maritime Partners in the 2nd quarter worth about $394,000. Virtu Financial LLC acquired a new position in Navios Maritime Partners in the first quarter valued at approximately $345,000. Ieq Capital LLC lifted its stake in Navios Maritime Partners by 41.4% in the first quarter. Ieq Capital LLC now owns 78,684 shares of the shipping company’s stock valued at $3,086,000 after buying an additional 23,054 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of Navios Maritime Partners by 9.5% during the 1st quarter. Moors & Cabot Inc. now owns 83,281 shares of the shipping company’s stock worth $3,266,000 after buying an additional 7,250 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. grew its position in shares of Navios Maritime Partners by 22.7% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 40,670 shares of the shipping company’s stock worth $1,532,000 after buying an additional 7,525 shares during the period. 62.74% of the stock is owned by institutional investors.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.