Navios Maritime Partners L.P. (NMM) Sees Significant Decline in Short Interest
Navios Maritime Partners L.P. (NYSE:NMM) saw a large decline in short interest in September. As of September 30th, there was short interest totalling 1,370,519 shares, a decline of 38.4% from the September 15th total of 2,223,164 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 311,829 shares, the short-interest ratio is currently 4.4 days.
Several research analysts have recently issued reports on NMM shares. Jefferies Group reaffirmed a “buy” rating on shares of Navios Maritime Partners L.P. in a research note on Monday, August 1st. Zacks Investment Research raised Navios Maritime Partners L.P. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $3.75.
Navios Maritime Partners L.P. (NYSE:NMM) opened at 1.42 on Wednesday. The firm has a market cap of $120.38 million, a price-to-earnings ratio of 40.57 and a beta of 1.74. Navios Maritime Partners L.P. has a one year low of $0.79 and a one year high of $8.10. The stock’s 50 day moving average price is $1.40 and its 200-day moving average price is $1.44.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/19/navios-maritime-partners-l-p-nmm-sees-significant-decline-in-short-interest.html
Navios Maritime Partners L.P. (NYSE:NMM) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by $0.25. The company earned $44.90 million during the quarter, compared to analyst estimates of $50.13 million. During the same period in the previous year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was down 20.5% compared to the same quarter last year. Analysts forecast that Navios Maritime Partners L.P. will post $0.04 earnings per share for the current year.
Several large investors have recently made changes to their positions in NMM. Sanders Morris Harris Inc. boosted its stake in shares of Navios Maritime Partners L.P. by 1.5% in the second quarter. Sanders Morris Harris Inc. now owns 133,650 shares of the company’s stock worth $172,000 after buying an additional 2,000 shares during the period. Stifel Financial Corp boosted its position in Navios Maritime Partners L.P. by 2.5% in the second quarter. Stifel Financial Corp now owns 265,627 shares of the company’s stock worth $344,000 after buying an additional 6,448 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Navios Maritime Partners L.P. by 30.5% in the first quarter. Renaissance Technologies LLC now owns 503,800 shares of the company’s stock worth $625,000 after buying an additional 117,800 shares during the last quarter.
Navios Maritime Partners L.P. Company Profile
Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.
Receive News & Ratings for Navios Maritime Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Navios Maritime Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.