Navios Maritime Partners (NYSE:NMM) Stock Passes Above 200 Day Moving Average – Should You Sell?

Navios Maritime Partners LP (NYSE:NMM)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $72.54 and traded as high as $89.19. Navios Maritime Partners shares last traded at $88.73, with a volume of 236,810 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Jefferies Financial Group raised their price objective on shares of Navios Maritime Partners from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Navios Maritime Partners in a research report on Tuesday, August 25th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Navios Maritime Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Navios Maritime Partners Stock Performance

The firm’s 50 day moving average price is $78.42 and its two-hundred day moving average price is $72.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.53 and a current ratio of 1.53. The firm has a market cap of $2.62 billion, a PE ratio of 5.96 and a beta of 0.99.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, August 27th. The shipping company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.30. Navios Maritime Partners had a return on equity of 12.24% and a net margin of 30.27%.The business had revenue of $410.17 million during the quarter, compared to analysts’ expectations of $360.83 million. The company’s revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.15 EPS.

Navios Maritime Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, August 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio is 1.57%.

Insider Activity at Navios Maritime Partners

In related news, insider Angeliki Frangou bought 1,208 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was purchased at an average cost of $68.88 per share, with a total value of $83,207.04. Following the purchase, the insider directly owned 4,757,419 shares of the company’s stock, valued at $327,691,020.72. This trade represents a 0.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have acquired a total of 49,817 shares of company stock valued at $3,713,784 in the last three months.

Institutional Trading of Navios Maritime Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. purchased a new stake in shares of Navios Maritime Partners during the 1st quarter worth approximately $1,889,000. Marnell Management LLC purchased a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $5,027,000. ING Groep NV increased its position in Navios Maritime Partners by 51.7% during the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after purchasing an additional 49,900 shares during the period. Bank of America Corp DE raised its position in Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock worth $13,438,000 after acquiring an additional 72,754 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Navios Maritime Partners during the first quarter worth about $622,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

About Navios Maritime Partners

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.