Navios Maritime Partners LP $NMM Holdings Cut by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC reduced its stake in Navios Maritime Partners LP (NYSE:NMM) by 71.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,395 shares of the shipping company’s stock after selling 11,059 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Navios Maritime Partners were worth $297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Royal Bank of Canada grew its holdings in shares of Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. State of Wyoming bought a new stake in shares of Navios Maritime Partners in the 4th quarter worth approximately $137,000. Corient Private Wealth LLC acquired a new position in Navios Maritime Partners during the 4th quarter valued at approximately $207,000. Mariner LLC acquired a new position in Navios Maritime Partners during the 4th quarter valued at approximately $208,000. Finally, Cerity Partners LLC bought a new position in Navios Maritime Partners during the 2nd quarter worth $212,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Navios Maritime Partners

In related news, insider Angeliki Frangou acquired 1,199 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was acquired at an average cost of $69.50 per share, for a total transaction of $83,330.50. Following the completion of the acquisition, the insider directly owned 4,758,618 shares of the company’s stock, valued at approximately $330,723,951. The trade was a 0.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have purchased 67,451 shares of company stock valued at $4,845,762.

Navios Maritime Partners Price Performance

Shares of NMM opened at $72.56 on Monday. Navios Maritime Partners LP has a one year low of $37.42 and a one year high of $80.69. The stock’s fifty day moving average is $72.15 and its 200-day moving average is $65.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 6.11 and a beta of 1.00.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million during 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 company 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. Shareholders of record on Monday, May 11th were given a dividend of $0.06 per share. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, May 11th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is presently 2.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Jefferies Financial Group initiated coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They set a “buy” rating and a $85.00 price target for the company. Finally, Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One research 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

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.