Navios Maritime Partners (NYSE:NMM) Reaches New 52-Week High – Here’s Why

Shares of Navios Maritime Partners LP (NYSE:NMM) hit a new 52-week high during trading on Friday . The company traded as high as $80.97 and last traded at $80.4650, with a volume of 84060 shares changing hands. The stock had previously closed at $76.82.

Analyst Upgrades and Downgrades

NMM has been the topic of several research reports. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, May 28th. Jefferies Financial Group started coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 target price for the company. 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $85.00.

Navios Maritime Partners Price Performance

The firm’s fifty day simple moving average is $72.91 and its 200-day simple moving average is $67.91. The firm has a market capitalization of $2.27 billion, a PE ratio of 6.67 and a beta of 1.00. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

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

Navios Maritime Partners Increases Dividend

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

Insider Buying and Selling

In other Navios Maritime Partners news, insider Angeliki Frangou bought 1,105 shares of the firm’s stock in a transaction on Tuesday, July 14th. The stock was acquired at an average price of $75.58 per share, with a total value of $83,515.90. Following the transaction, the insider owned 4,768,783 shares in the company, valued at $360,424,619.14. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In the last ninety days, insiders bought 62,108 shares of company stock valued at $4,513,984.

Institutional Trading of Navios Maritime Partners

Large investors have recently made changes to their positions in the stock. ION Fund Management Ltd bought a new position in Navios Maritime Partners during the fourth quarter valued at approximately $24,432,000. Walleye Capital LLC grew its position in Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after purchasing an additional 149,858 shares during the period. Marnell Management LLC purchased a new stake in Navios Maritime Partners during the 4th quarter valued at $5,027,000. Bank of America Corp DE raised its stake in Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after buying an additional 72,754 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings 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 valued at $4,589,000 after buying an additional 52,651 shares during the period. 62.74% of the stock is currently owned by institutional investors.

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.