Navios Maritime Partners (NYSE:NMM) Sets New 1-Year High – Time to Buy?

Navios Maritime Partners LP (NYSE:NMM)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $69.85 and last traded at $68.3240, with a volume of 289352 shares. The stock had previously closed at $66.59.

Analyst Ratings Changes

Several equities research analysts have issued reports on NMM shares. Wall Street Zen upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Sunday. Weiss Ratings reissued a “hold (c)” rating on shares of Navios Maritime Partners in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Navios Maritime Partners currently has an average rating of “Hold”.

Navios Maritime Partners Stock Down 0.3%

The firm’s 50 day simple moving average is $56.69 and its 200-day simple moving average is $51.21. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 7.08 and a beta of 1.38.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.99. Navios Maritime Partners had a return on equity of 9.28% and a net margin of 21.23%.The company had revenue of $365.55 million for the quarter, compared to analysts’ expectations of $316.00 million. During the same quarter in the prior year, the business posted $2.61 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. Equities analysts expect that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 12th. Investors of record on Monday, February 9th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, February 9th. Navios Maritime Partners’s dividend payout ratio is 2.08%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after buying an additional 202 shares during the period. Merrion Investment Management Co LLC grew its stake in shares of Navios Maritime Partners by 0.4% in the third quarter. Merrion Investment Management Co LLC now owns 65,250 shares of the shipping company’s stock valued at $2,940,000 after acquiring an additional 250 shares in the last quarter. Raymond James Financial Inc. grew its stake in shares of Navios Maritime Partners by 5.6% in the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock valued at $324,000 after acquiring an additional 380 shares in the last quarter. Moors & Cabot Inc. increased its position in Navios Maritime Partners by 0.8% during the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock worth $4,175,000 after acquiring an additional 750 shares during the period. Finally, Allworth Financial LP acquired a new stake in Navios Maritime Partners in the 2nd quarter worth about $47,000. 62.74% of the stock is owned by institutional investors and hedge funds.

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.