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

Navios Maritime Partners LP (NYSE:NMM) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $57.29 and last traded at $57.1560, with a volume of 20428 shares trading hands. The stock had previously closed at $56.02.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Wall Street Zen raised shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Navios Maritime Partners Stock Up 2.4%

The firm has a 50 day moving average of $52.55 and a 200-day moving average of $47.37. 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 capitalization of $1.70 billion, a P/E ratio of 6.57 and a beta of 1.34.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Tuesday, November 18th. The shipping company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.28. Navios Maritime Partners had a return on equity of 8.69% and a net margin of 20.04%.The company had revenue of $346.92 million during the quarter, compared to analysts’ expectations of $334.64 million. During the same period in the prior year, the firm earned $3.15 earnings per share. Navios Maritime Partners’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts expect that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Announces Dividend

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

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors have recently bought and sold shares of the business. Allworth Financial LP acquired a new position in Navios Maritime Partners in the 2nd quarter valued at $47,000. TD Waterhouse Canada Inc. acquired a new stake in shares of Navios Maritime Partners during the second quarter valued at about $62,000. Cerity Partners LLC acquired a new stake in shares of Navios Maritime Partners in the second quarter valued at $212,000. Aristides Capital LLC acquired a new position in shares of Navios Maritime Partners during the 2nd quarter worth $228,000. Finally, Blackhawk Capital Partners LLC bought a new position in shares of Navios Maritime Partners during the third quarter valued at $247,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

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.