Navios Maritime Partners LP (NYSE:NMM) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday, July 27th.
A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Navios Maritime Partners from a “buy” rating to a “sell” rating in a research note on Tuesday, July 25th. Stifel Nicolaus restated a “hold” rating and issued a $2.25 price objective on shares of Navios Maritime Partners in a research note on Friday, June 23rd. Jefferies Group LLC began coverage on shares of Navios Maritime Partners in a research note on Monday, June 5th. They issued a “buy” rating and a $2.00 price objective on the stock. Finally, Citigroup Inc. lifted their price objective on shares of Navios Maritime Partners from $2.00 to $2.25 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. Navios Maritime Partners has an average rating of “Hold” and an average price target of $2.19.
Shares of Navios Maritime Partners (NYSE NMM) traded up 1.03% during trading on Thursday, hitting $1.97. The stock had a trading volume of 1,241,531 shares. Navios Maritime Partners has a one year low of $1.15 and a one year high of $2.94. The stock’s 50 day moving average price is $1.63 and its 200-day moving average price is $1.80. The stock’s market cap is $296.38 million.
Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, July 27th. The shipping company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Navios Maritime Partners had a negative net margin of 19.50% and a positive return on equity of 2.67%. The business had revenue of $50.02 million for the quarter, compared to analyst estimates of $44.37 million. During the same period last year, the business earned $0.05 EPS. The company’s revenue was up 11.5% on a year-over-year basis. Analysts expect that Navios Maritime Partners will post $0.07 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in shares of Navios Maritime Partners during the fourth quarter valued at $109,000. Nine Chapters Capital Management LLC purchased a new stake in shares of Navios Maritime Partners during the first quarter valued at $125,000. UBS Group AG increased its stake in shares of Navios Maritime Partners by 39.3% in the first quarter. UBS Group AG now owns 84,975 shares of the shipping company’s stock valued at $176,000 after buying an additional 23,989 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Navios Maritime Partners by 98.8% in the fourth quarter. Two Sigma Investments LP now owns 185,507 shares of the shipping company’s stock valued at $262,000 after buying an additional 92,209 shares during the last quarter. Finally, Sanders Morris Harris Inc. increased its stake in shares of Navios Maritime Partners by 134.3% in the first quarter. Sanders Morris Harris Inc. now owns 282,650 shares of the shipping company’s stock valued at $585,000 after buying an additional 162,000 shares during the last quarter. 19.17% of the stock is currently owned by institutional investors and hedge funds.
Navios Maritime Partners Company Profile
Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.
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