Navios Maritime Partners (NYSE:NMM) Reaches New 1-Year High at $58.25

Navios Maritime Partners L.P. (NYSE:NMM)’s stock price reached a new 52-week high on Monday . The stock traded as high as $58.25 and last traded at $58.25, with a volume of 1864 shares trading hands. The stock had previously closed at $57.10.

Analysts Set New Price Targets

NMM has been the topic of a number of research analyst reports. Jefferies Financial Group boosted their target price on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com upgraded shares of Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st.

Navios Maritime Partners Trading Up 5.1 %

The company has a market capitalization of $1.81 billion, a P/E ratio of 4.31 and a beta of 1.97. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average price is $50.09 and its 200 day moving average price is $47.65.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.84 by $0.22. The company had revenue of $342.20 million during the quarter, compared to analyst estimates of $312.39 million. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.86%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.32 earnings per share. As a group, equities research analysts predict that Navios Maritime Partners L.P. will post 14.8 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Friday, August 9th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend was Friday, August 9th. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 1.51%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently added to or reduced their stakes in NMM. Main Street Financial Solutions LLC lifted its stake in shares of Navios Maritime Partners by 2,977.2% in the 2nd quarter. Main Street Financial Solutions LLC now owns 750,835 shares of the shipping company’s stock valued at $38,315,000 after purchasing an additional 726,435 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of Navios Maritime Partners by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 131,707 shares of the shipping company’s stock worth $6,721,000 after buying an additional 2,169 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Navios Maritime Partners by 870.2% during the 2nd quarter. Acadian Asset Management LLC now owns 126,709 shares of the shipping company’s stock valued at $6,463,000 after purchasing an additional 113,649 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Navios Maritime Partners by 37.2% during the second quarter. Moors & Cabot Inc. now owns 71,280 shares of the shipping company’s stock valued at $3,637,000 after buying an additional 19,330 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Navios Maritime Partners by 748.2% in the 2nd quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock worth $2,812,000 after purchasing an additional 48,612 shares in the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.

About Navios Maritime Partners

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.