Navios Maritime Partners (NYSE:NMM) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a hold rating in a research note published on Monday morning.

Navios Maritime Partners Stock Up 1.1 %

Shares of NYSE NMM opened at $44.11 on Monday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1.32 billion, a PE ratio of 3.35 and a beta of 1.93. The company’s fifty day simple moving average is $44.38 and its 200 day simple moving average is $50.31. Navios Maritime Partners has a 12-month low of $27.80 and a 12-month high of $65.89.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings data on Tuesday, November 5th. The shipping company reported $3.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). The company had revenue of $340.84 million for the quarter, compared to the consensus estimate of $326.32 million. Navios Maritime Partners had a return on equity of 13.66% and a net margin of 30.48%. Navios Maritime Partners’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $2.68 EPS. As a group, sell-side analysts forecast that Navios Maritime Partners will post 11.6 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 13th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.20 annualized dividend and a dividend yield of 0.45%. Navios Maritime Partners’s dividend payout ratio is 1.52%.

Hedge Funds Weigh In On Navios Maritime Partners

Large investors have recently modified their holdings of the company. Main Street Financial Solutions LLC raised its holdings in Navios Maritime Partners by 1.6% during the third quarter. Main Street Financial Solutions LLC now owns 762,929 shares of the shipping company’s stock worth $47,782,000 after buying an additional 12,094 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of Navios Maritime Partners by 4.0% during the third quarter. Moors & Cabot Inc. now owns 74,130 shares of the shipping company’s stock worth $4,643,000 after acquiring an additional 2,850 shares in the last quarter. ING Groep NV raised its holdings in shares of Navios Maritime Partners by 446.2% in the 4th quarter. ING Groep NV now owns 71,000 shares of the shipping company’s stock worth $3,074,000 after acquiring an additional 58,000 shares during the last quarter. Integrated Investment Consultants LLC bought a new position in Navios Maritime Partners in the 3rd quarter valued at about $4,208,000. Finally, Walleye Capital LLC boosted its stake in Navios Maritime Partners by 4,002.4% during the 3rd quarter. Walleye Capital LLC now owns 35,512 shares of the shipping company’s stock valued at $2,224,000 after purchasing an additional 36,422 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.