Navios Maritime Partners (NYSE:NMM) Releases Earnings Results, Beats Expectations By $0.30 EPS

Navios Maritime Partners (NYSE:NMM) announced its quarterly earnings results on Thursday. The shipping company reported $4.65 earnings per share for the quarter, beating analysts’ consensus estimates of $4.35 by $0.30, Zacks reports. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%.

Navios Maritime Partners Trading Up 1.0%

NYSE:NMM opened at $83.54 on Thursday. The business’s 50-day simple moving average is $75.63 and its 200-day simple moving average is $70.98. Navios Maritime Partners has a fifty-two week low of $42.90 and a fifty-two week high of $84.31. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.45 and a quick ratio of 1.45. The stock has a market capitalization of $2.40 billion, a PE ratio of 7.04 and a beta of 1.02.

Navios Maritime Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, August 10th. Navios Maritime Partners’s payout ratio is 2.02%.

Insider Buying and Selling

In related news, insider Angeliki Frangou purchased 1,062 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were purchased at an average price of $79.16 per share, with a total value of $84,067.92. Following the completion of the purchase, the insider owned 4,790,901 shares in the company, valued at $379,247,723.16. This represents a 0.02% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 59,066 shares of company stock worth $4,379,987.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings 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 purchasing an additional 202 shares in the last quarter. State of Wyoming bought a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $137,000. Corient Private Wealth LLC bought a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $207,000. Mariner LLC acquired a new position in shares of Navios Maritime Partners during the fourth quarter worth about $208,000. Finally, Cerity Partners LLC acquired a new position in shares of Navios Maritime Partners during the second quarter worth about $212,000. 62.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 target price on the stock. Weiss Ratings lowered shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.00.

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.