Navios Maritime Partners (NYSE:NMM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a strong-buy rating in a report published on Saturday morning.

Separately, Weiss Ratings raised shares of Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Navios Maritime Partners presently has a consensus rating of “Buy”.

Navios Maritime Partners Trading Up 1.5%

NYSE NMM opened at $65.60 on Friday. The company has a market cap of $1.88 billion, a PE ratio of 6.83 and a beta of 1.31. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. Navios Maritime Partners has a 12 month low of $28.37 and a 12 month high of $74.21. The stock has a 50 day moving average of $62.81 and a 200-day moving average of $54.36.

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

Navios Maritime Partners Dividend Announcement

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

Insider Activity at Navios Maritime Partners

In other news, insider Angeliki Frangou bought 1,289 shares of the firm’s stock in a transaction dated Monday, March 23rd. The shares were bought at an average price of $64.87 per share, with a total value of $83,617.43. Following the completion of the transaction, the insider owned 4,678,741 shares of the company’s stock, valued at $303,509,928.67. This trade represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders purchased a total of 3,771 shares of company stock valued at $249,550 over the last 90 days.

Institutional Trading of Navios Maritime Partners

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its holdings in Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after buying an additional 202 shares in the last quarter. Allworth Financial LP bought a new stake in shares of Navios Maritime Partners in the second quarter valued at about $47,000. TD Waterhouse Canada Inc. bought a new stake in shares of Navios Maritime Partners in the second quarter valued at about $62,000. State of Wyoming acquired a new position in shares of Navios Maritime Partners in the fourth quarter valued at about $137,000. Finally, Corient Private Wealth LLC acquired a new position in shares of Navios Maritime Partners in the fourth quarter valued at about $207,000. 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.