Navios Maritime Partners (NYSE:NMM) Sees Strong Trading Volume

Navios Maritime Partners L.P. (NYSE:NMM) saw unusually-strong trading volume on Thursday . Approximately 180,011 shares changed hands during trading, an increase of 6% from the previous session’s volume of 170,416 shares.The stock last traded at $53.85 and had previously closed at $53.10.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st.

Navios Maritime Partners Trading Up 0.7 %

The firm has a 50-day moving average price of $49.48 and a 200-day moving average price of $46.54. The stock has a market cap of $1.69 billion, a PE ratio of 4.23 and a beta of 1.97. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.89 and a current ratio of 0.89.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.84 by $0.22. The firm had revenue of $342.20 million for the quarter, compared to the consensus estimate of $312.39 million. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.86%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.32 earnings per share. As a group, equities analysts anticipate that Navios Maritime Partners L.P. will post 14.8 EPS for the current fiscal year.

Navios Maritime Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date of this dividend was Friday, August 9th. Navios Maritime Partners’s payout ratio is 1.51%.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC bought a new stake in shares of Navios Maritime Partners in the fourth quarter worth approximately $782,000. Jump Financial LLC grew its position in Navios Maritime Partners by 135.5% in the 4th quarter. Jump Financial LLC now owns 21,900 shares of the shipping company’s stock worth $612,000 after purchasing an additional 12,600 shares during the period. Westhampton Capital LLC purchased a new stake in Navios Maritime Partners during the 1st quarter valued at $241,000. Commonwealth Equity Services LLC lifted its holdings in shares of Navios Maritime Partners by 11.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 129,538 shares of the shipping company’s stock valued at $5,521,000 after buying an additional 13,037 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Navios Maritime Partners by 30,700.0% in the 1st quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock worth $53,000 after buying an additional 1,228 shares during the last quarter. Hedge funds and other institutional investors own 62.74% of the company’s stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.