Navios Maritime Partners (NYSE:NMM) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Navios Maritime Partners LP (NYSE:NMM) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $67.51 and traded as high as $74.78. Navios Maritime Partners shares last traded at $74.29, with a volume of 77,162 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NMM shares. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a research report on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. Weiss Ratings cut shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Navios Maritime Partners Stock Up 2.5%

The stock has a 50 day simple moving average of $72.59 and a 200-day simple moving average of $67.51. The firm has a market cap of $2.13 billion, a PE ratio of 6.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45.

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

Navios Maritime Partners Increases Dividend

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

Insider Transactions at Navios Maritime Partners

In other news, insider Angeliki Frangou acquired 1,208 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The shares were bought at an average cost of $68.88 per share, with a total value of $83,207.04. Following the transaction, the insider owned 4,757,419 shares of the company’s stock, valued at $327,691,020.72. This trade represents a 0.03% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have bought 64,491 shares of company stock valued at $4,681,522.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Navios Maritime Partners by 95.5% during the third quarter. JPMorgan Chase & Co. now owns 34,884 shares of the shipping company’s stock valued at $1,572,000 after buying an additional 17,040 shares during the last quarter. Marnell Management LLC bought a new stake in shares of Navios Maritime Partners during the fourth quarter valued at approximately $5,027,000. 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 worth $7,681,000 after acquiring an additional 49,900 shares during the last quarter. SG Americas Securities LLC purchased a new position in Navios Maritime Partners in the 1st quarter worth approximately $622,000. Finally, Live Oak Investment Partners lifted its position in Navios Maritime Partners by 6.8% in the 4th quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company’s stock valued at $1,692,000 after acquiring an additional 2,063 shares in 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.