Navios Maritime Partners (NYSE:NMM) Stock Rating Upgraded by StockNews.com

Navios Maritime Partners (NYSE:NMM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

Navios Maritime Partners Stock Performance

Shares of NMM stock opened at $44.03 on Thursday. The firm has a 50 day moving average of $43.72 and a 200-day moving average of $50.07. Navios Maritime Partners has a 52 week low of $30.66 and a 52 week high of $65.89. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.59. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 3.34 and a beta of 1.93.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Thursday, February 13th. The shipping company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.54 by ($1.93). Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.66%. On average, equities analysts forecast that Navios Maritime Partners will post 11.6 earnings per share for the current year.

Hedge Funds Weigh In On Navios Maritime Partners

A number of hedge funds have recently bought and sold shares of NMM. BNP Paribas Financial Markets boosted its holdings in Navios Maritime Partners by 21.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock worth $135,000 after acquiring an additional 384 shares during the last quarter. LPL Financial LLC purchased a new position in Navios Maritime Partners during the 4th quarter worth $204,000. Raymond James Financial Inc. purchased a new position in Navios Maritime Partners during the 4th quarter worth $219,000. First Trust Advisors LP boosted its holdings in Navios Maritime Partners by 23.7% during the 4th quarter. First Trust Advisors LP now owns 5,325 shares of the shipping company’s stock worth $231,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Merrion Investment Management Co LLC boosted its holdings in Navios Maritime Partners by 56.9% during the 4th quarter. Merrion Investment Management Co LLC now owns 10,040 shares of the shipping company’s stock worth $435,000 after acquiring an additional 3,640 shares during the last quarter. 62.74% of the stock is owned by hedge funds and other 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.