Navios Maritime Partners (NYSE:NMM) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Navios Maritime Partners LP (NYSE:NMM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $67.51 and traded as high as $74.78. Navios Maritime Partners shares last traded at $74.29, with a volume of 77,162 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently commented on NMM shares. Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 target price on the stock. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Navios Maritime Partners has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Navios Maritime Partners Stock Up 4.5%

The stock has a fifty day simple moving average of $72.63 and a two-hundred day simple moving average of $67.66. The firm has a market cap of $2.21 billion, a PE ratio of 6.48 and a beta of 1.00. 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 (NYSE:NMM) last released its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.58. The company had revenue of $357.01 million during the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. Navios Maritime Partners’s revenue was up 17.4% compared to the same quarter last year. During the same period last year, the business earned $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Shareholders of record on Monday, May 11th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, May 11th. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. Navios Maritime Partners’s payout ratio is 2.02%.

Insider Activity at Navios Maritime Partners

In other Navios Maritime Partners news, insider Angeliki Frangou acquired 1,208 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were bought at an average price of $68.88 per share, for a total transaction of $83,207.04. Following the completion of the transaction, the insider owned 4,757,419 shares of the company’s stock, valued at approximately $327,691,020.72. This represents a 0.03% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have acquired 63,304 shares of company stock worth $4,598,171.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Ion Asset Management Ltd. boosted its position in shares of Navios Maritime Partners by 2.2% during the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after acquiring an additional 17,285 shares during the last quarter. ION Fund Management Ltd bought a new position in shares of Navios Maritime Partners in the fourth quarter worth approximately $24,432,000. Bank of America Corp DE increased its position in shares of Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after purchasing an additional 72,754 shares during the last quarter. Walleye Capital LLC raised its stake in Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after purchasing an additional 149,858 shares in the last quarter. Finally, ING Groep NV raised its stake in Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after purchasing an additional 49,900 shares in the last quarter. 62.74% of the stock is currently owned by 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.