Sanders Morris Harris LLC continued to hold its stake in Navios Maritime Partners LP (NYSE:NMM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 282,650 shares of the shipping company’s stock at the end of the second quarter. Sanders Morris Harris LLC owned approximately 0.19% of Navios Maritime Partners worth $450,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the stock. Credit Suisse AG purchased a new stake in Navios Maritime Partners during the first quarter worth about $1,780,000. Raging Capital Management LLC purchased a new stake in Navios Maritime Partners during the first quarter worth about $8,043,000. Sound Point Capital Management LP purchased a new stake in Navios Maritime Partners during the first quarter worth about $2,103,000. Renaissance Technologies LLC increased its stake in Navios Maritime Partners by 905.0% in the first quarter. Renaissance Technologies LLC now owns 776,808 shares of the shipping company’s stock worth $1,608,000 after buying an additional 699,514 shares in the last quarter. Finally, UBS Group AG increased its stake in Navios Maritime Partners by 39.3% in the first quarter. UBS Group AG now owns 84,975 shares of the shipping company’s stock worth $176,000 after buying an additional 23,989 shares in the last quarter. Institutional investors and hedge funds own 19.17% of the company’s stock.
Shares of Navios Maritime Partners LP (NYSE NMM) traded up 1.03% on Tuesday, hitting $1.97. The company had a trading volume of 1,241,531 shares. Navios Maritime Partners LP has a 52 week low of $1.15 and a 52 week high of $2.94. The company’s market capitalization is $296.38 million. The stock’s 50-day moving average is $1.63 and its 200 day moving average is $1.80.
Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $50.02 million during the quarter, compared to analysts’ expectations of $44.37 million. Navios Maritime Partners had a positive return on equity of 2.67% and a negative net margin of 19.50%. Navios Maritime Partners’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period last year, the business earned $0.05 earnings per share. Equities analysts expect that Navios Maritime Partners LP will post $0.07 EPS for the current year.
A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Navios Maritime Partners from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Citigroup Inc. boosted their price target on Navios Maritime Partners from $2.00 to $2.25 and gave the company a “neutral” rating in a research note on Tuesday, April 25th. BidaskClub upgraded Navios Maritime Partners from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Jefferies Group LLC assumed coverage on Navios Maritime Partners in a research note on Monday, June 5th. They set a “buy” rating and a $2.00 price target for the company. Finally, Stifel Nicolaus restated a “hold” rating and set a $2.25 price target on shares of Navios Maritime Partners in a research note on Friday, June 23rd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Navios Maritime Partners currently has a consensus rating of “Hold” and a consensus target price of $2.19.
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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