Navios Maritime Partners (NYSE:NMM) Shares Gap Up to $32.91

Navios Maritime Partners L.P. (NYSE:NMM) shares gapped up prior to trading on Monday . The stock had previously closed at $32.91, but opened at $34.01. Navios Maritime Partners shares last traded at $32.60, with a volume of 6,211 shares trading hands.

NMM has been the topic of a number of recent analyst reports. TheStreet raised shares of Navios Maritime Partners from a “d+” rating to a “c” rating in a report on Friday, April 30th. Zacks Investment Research raised Navios Maritime Partners from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a research note on Tuesday, January 12th. Citigroup raised their price objective on Navios Maritime Partners from $7.50 to $21.00 in a research report on Wednesday, February 24th. Janney Montgomery Scott raised their target price on Navios Maritime Partners from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, January 29th. Finally, Jefferies Financial Group lifted their price target on Navios Maritime Partners from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, January 29th.

The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.43. The company has a market cap of $617.79 million, a P/E ratio of -4.22 and a beta of 2.56. The firm’s 50-day moving average price is $28.57 and its 200-day moving average price is $16.54.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Thursday, April 29th. The shipping company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.23). Navios Maritime Partners had a negative net margin of 37.17% and a positive return on equity of 1.30%. As a group, analysts forecast that Navios Maritime Partners L.P. will post 0.85 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 14th. Shareholders of record on Tuesday, May 11th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, May 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.64%. Navios Maritime Partners’s payout ratio is 8.23%.

A number of large investors have recently added to or reduced their stakes in the business. Dorsey Wright & Associates bought a new position in Navios Maritime Partners in the 1st quarter worth $50,000. B. Riley Wealth Management Inc. bought a new stake in shares of Navios Maritime Partners during the fourth quarter worth approximately $112,000. GSA Capital Partners LLP increased its position in shares of Navios Maritime Partners by 97.6% during the fourth quarter. GSA Capital Partners LLP now owns 29,342 shares of the shipping company’s stock worth $329,000 after acquiring an additional 14,496 shares in the last quarter. Globeflex Capital L P lifted its stake in Navios Maritime Partners by 695.3% in the fourth quarter. Globeflex Capital L P now owns 130,447 shares of the shipping company’s stock valued at $1,461,000 after acquiring an additional 114,044 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Navios Maritime Partners by 351.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 78,339 shares of the shipping company’s stock worth $1,845,000 after purchasing an additional 61,000 shares during the period. 3.37% of the stock is currently owned by institutional investors.

About Navios Maritime Partners (NYSE:NMM)

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 dry cargo commodities, including iron ore, coal, grain, fertilizers, and containers, as well as charters its vessels under medium to long-term charters.

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