Navios Maritime Partners (NYSE:NMM) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Navios Maritime Partners LP (NYSE:NMM) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $54.98 and traded as high as $65.49. Navios Maritime Partners shares last traded at $64.31, with a volume of 240,478 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NMM. Wall Street Zen upgraded Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Weiss Ratings raised Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Navios Maritime Partners Price Performance

The stock has a 50 day moving average of $63.81 and a 200-day moving average of $54.98. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.12. The company has a market cap of $1.84 billion, a PE ratio of 6.69 and a beta of 1.31.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.17% and a net margin of 21.23%.The business had revenue of $365.55 million for the quarter, compared to analyst estimates of $316.00 million. During the same period in the prior year, the company earned $2.61 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Equities analysts predict that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were given a $0.05 dividend. The ex-dividend date was Monday, February 9th. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is currently 2.08%.

Insiders Place Their Bets

In other Navios Maritime Partners news, insider Angeliki Frangou purchased 1,289 shares of Navios Maritime Partners stock in a transaction on Monday, March 23rd. The stock was bought at an average cost of $64.87 per share, with a total value of $83,617.43. Following the transaction, the insider owned 4,678,741 shares of the company’s stock, valued at $303,509,928.67. This represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 3,771 shares of company stock valued at $249,550.

Institutional Trading of Navios Maritime Partners

Several large investors have recently made changes to their positions in the business. JPMorgan Chase & Co. increased its stake in shares of Navios Maritime Partners by 64.6% in the second quarter. JPMorgan Chase & Co. now owns 17,844 shares of the shipping company’s stock worth $672,000 after acquiring an additional 7,006 shares during the period. Jump Financial LLC purchased a new position in shares of Navios Maritime Partners during the second quarter worth $580,000. Cerity Partners LLC acquired a new position in Navios Maritime Partners during the second quarter valued at $212,000. BNP Paribas Financial Markets lifted its position in Navios Maritime Partners by 25.4% during the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock valued at $290,000 after purchasing an additional 1,559 shares during the period. Finally, Ion Asset Management Ltd. boosted its holdings in Navios Maritime Partners by 2.2% in the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock valued at $30,821,000 after purchasing an additional 17,285 shares during the last quarter. 62.74% of the stock is 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.