Navios Maritime Partners (NYSE:NMM) Trading Down 5.4% – Should You Sell?

Navios Maritime Partners L.P. (NYSE:NMM)’s stock price was down 5.4% during mid-day trading on Wednesday . The company traded as low as $44.56 and last traded at $44.98. Approximately 166,728 shares changed hands during trading, a decline of 8% from the average daily volume of 181,628 shares. The stock had previously closed at $47.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NMM shares. Jefferies Financial Group increased their price target on Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st.

Navios Maritime Partners Stock Performance

The stock has a fifty day simple moving average of $54.39 and a two-hundred day simple moving average of $52.26. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 3.61 and a beta of 1.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.13.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). The business had revenue of $340.84 million during the quarter, compared to analyst estimates of $326.32 million. Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.66%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.68 EPS. Analysts expect that Navios Maritime Partners L.P. will post 12.37 EPS for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 12th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Tuesday, November 12th. Navios Maritime Partners’s dividend payout ratio is presently 1.52%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently modified their holdings of NMM. Main Street Financial Solutions LLC boosted its holdings in shares of Navios Maritime Partners by 2,977.2% during the 2nd quarter. Main Street Financial Solutions LLC now owns 750,835 shares of the shipping company’s stock valued at $38,315,000 after acquiring an additional 726,435 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Navios Maritime Partners by 870.2% during the 2nd quarter. Acadian Asset Management LLC now owns 126,709 shares of the shipping company’s stock valued at $6,463,000 after acquiring an additional 113,649 shares in the last quarter. Integrated Investment Consultants LLC acquired a new stake in shares of Navios Maritime Partners during the 3rd quarter valued at $4,208,000. Sei Investments Co. raised its position in Navios Maritime Partners by 748.2% during the 2nd quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock worth $2,812,000 after purchasing an additional 48,612 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in Navios Maritime Partners during the 2nd quarter worth $2,064,000. Institutional investors and hedge funds own 62.74% of the company’s stock.

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.