Ion Asset Management Ltd. Decreases Stock Position in Navios Maritime Partners LP $NMM

Ion Asset Management Ltd. trimmed its holdings in Navios Maritime Partners LP (NYSE:NMM) by 43.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 466,000 shares of the shipping company’s stock after selling 351,963 shares during the period. Navios Maritime Partners accounts for about 2.3% of Ion Asset Management Ltd.’s investment portfolio, making the stock its 16th largest position. Ion Asset Management Ltd. owned about 1.57% of Navios Maritime Partners worth $20,993,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bank of America Corp DE raised its position in Navios Maritime Partners by 28.8% during the third quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock worth $5,314,000 after acquiring an additional 26,340 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of Navios Maritime Partners by 5.6% during the 3rd quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock worth $324,000 after purchasing an additional 380 shares during the last quarter. Arbiter Partners Capital Management LLC purchased a new stake in Navios Maritime Partners in the 3rd quarter valued at approximately $1,117,000. JPMorgan Chase & Co. lifted its stake in Navios Maritime Partners by 95.5% in the 3rd 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 in the last quarter. Finally, Mraz Amerine & Associates Inc. grew its holdings in Navios Maritime Partners by 6.4% during the 3rd quarter. Mraz Amerine & Associates Inc. now owns 43,291 shares of the shipping company’s stock valued at $1,950,000 after buying an additional 2,621 shares during the last quarter. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NMM shares. Wall Street Zen upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Sunday, February 22nd. Weiss Ratings reaffirmed 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, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Navios Maritime Partners Trading Down 1.7%

NYSE NMM opened at $59.03 on Monday. The company has a 50-day moving average of $61.50 and a 200-day moving average of $53.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. Navios Maritime Partners LP has a 12 month low of $28.37 and a 12 month high of $74.21. The company has a market cap of $1.69 billion, a P/E ratio of 6.14 and a beta of 1.31.

Navios Maritime Partners (NYSE:NMM) last released its earnings results on Thursday, February 19th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. The firm had revenue of $365.55 million during the quarter, compared to the consensus estimate of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. Navios Maritime Partners’s revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.61 earnings per share. As a group, equities analysts predict that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

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

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.