Wall Street Zen Downgrades Navios Maritime Partners (NYSE:NMM) to Hold

Navios Maritime Partners (NYSE:NMM) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Navios Maritime Partners Stock Performance

Shares of NMM stock opened at $62.09 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. Navios Maritime Partners has a 12-month low of $28.37 and a 12-month high of $63.47. The business’s 50 day moving average is $55.47 and its two-hundred day moving average is $50.32. The company has a market capitalization of $1.84 billion, a P/E ratio of 7.11 and a beta of 1.38.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Tuesday, November 18th. The shipping company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.28. Navios Maritime Partners had a return on equity of 8.69% and a net margin of 20.04%.The business had revenue of $346.92 million during the quarter, compared to the consensus estimate of $334.64 million. During the same period in the prior year, the company posted $3.15 EPS. The business’s quarterly revenue was up 1.8% on a year-over-year basis. Analysts expect that Navios Maritime Partners will post 12.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Counterpoint Mutual Funds LLC acquired a new stake in Navios Maritime Partners during the fourth quarter worth $810,000. Empowered Funds LLC acquired a new stake in shares of Navios Maritime Partners during the 4th quarter worth about $329,000. JPMorgan Chase & Co. increased its position in shares of Navios Maritime Partners by 150.9% during the 4th quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company’s stock worth $4,589,000 after purchasing an additional 52,651 shares during the last quarter. ING Groep NV raised its holdings in Navios Maritime Partners by 51.7% in the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock valued at $7,681,000 after buying an additional 49,900 shares during the period. Finally, State of Wyoming acquired a new position in Navios Maritime Partners in the fourth quarter valued at about $137,000. 62.74% of the stock is currently owned by hedge funds and other 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.