Navios Maritime Partners (NMM) Rating Lowered to Sell at ValuEngine

Navios Maritime Partners (NYSE:NMM) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Friday.

Separately, Zacks Investment Research downgraded Navios Maritime Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $2.33.

Shares of NYSE:NMM opened at $1.78 on Friday. Navios Maritime Partners has a 1 year low of $1.61 and a 1 year high of $2.62. The stock has a market cap of $321.77 million, a P/E ratio of 11.13 and a beta of 1.61. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.58.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Wednesday, August 1st. The shipping company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. Navios Maritime Partners had a positive return on equity of 3.98% and a negative net margin of 16.31%. The firm had revenue of $58.20 million for the quarter, compared to the consensus estimate of $57.07 million. analysts expect that Navios Maritime Partners will post 0.2 earnings per share for the current fiscal year.

Several hedge funds have recently bought and sold shares of NMM. Evermore Global Advisors LLC grew its stake in shares of Navios Maritime Partners by 4.9% in the 2nd quarter. Evermore Global Advisors LLC now owns 10,792,588 shares of the shipping company’s stock worth $20,398,000 after buying an additional 500,155 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Navios Maritime Partners by 31.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,359,898 shares of the shipping company’s stock worth $4,460,000 after buying an additional 564,098 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Navios Maritime Partners by 28.3% in the 1st quarter. JPMorgan Chase & Co. now owns 1,408,693 shares of the shipping company’s stock worth $2,536,000 after buying an additional 310,316 shares during the last quarter. UBS Group AG grew its stake in shares of Navios Maritime Partners by 34.7% in the 1st quarter. UBS Group AG now owns 861,354 shares of the shipping company’s stock worth $1,550,000 after buying an additional 222,001 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Navios Maritime Partners by 17.1% in the 2nd quarter. Millennium Management LLC now owns 496,941 shares of the shipping company’s stock worth $939,000 after buying an additional 72,692 shares during the last quarter. Hedge funds and other institutional investors own 19.60% 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 dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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