Navios Maritime Partners (NYSE:NMM) Share Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Navios Maritime Partners LP (NYSE:NMM)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $62.90 and traded as high as $72.29. Navios Maritime Partners shares last traded at $71.56, with a volume of 78,891 shares traded.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NMM. Wall Street Zen upgraded shares of Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Jefferies Financial Group began coverage on shares of Navios Maritime Partners in a research note on Friday, April 24th. They set a “buy” rating and a $85.00 target price for the company. Finally, Weiss Ratings downgraded shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Navios Maritime Partners Stock Performance

The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $2.05 billion, a PE ratio of 6.03 and a beta of 1.01. The stock’s 50 day moving average price is $71.04 and its two-hundred day moving average price is $62.90.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million for the quarter, compared to the consensus estimate of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 2.02%.

Insider Buying and Selling

In other Navios Maritime Partners news, insider Angeliki Frangou acquired 1,289 shares of the company’s stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $64.87 per share, with a total value of $83,617.43. Following the completion of the transaction, the insider directly owned 4,678,741 shares of the company’s stock, valued at approximately $303,509,928.67. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 54,003 shares of company stock worth $3,850,238 over the last ninety days.

Institutional Investors Weigh In On Navios Maritime Partners

Several large investors have recently made changes to their positions in the business. ION Fund Management Ltd purchased a new position in shares of Navios Maritime Partners in the fourth quarter valued at $24,432,000. Walleye Capital LLC boosted its stake in shares of Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after purchasing an additional 149,858 shares during the period. Marnell Management LLC purchased a new position in shares of Navios Maritime Partners in the fourth quarter valued at $5,027,000. Bank of America Corp DE boosted its stake in shares of Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after purchasing an additional 72,754 shares during the period. Finally, ING Groep NV boosted its stake in Navios Maritime Partners by 123.6% during the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock valued at $4,352,000 after acquiring an additional 53,400 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

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.