Navios Maritime Partners (NMM) Hits New 52-Week Low at $1.15

Navios Maritime Partners L.P. (NYSE:NMM)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $1.15 and last traded at $1.17, with a volume of 998737 shares. The stock had previously closed at $1.24.

Several equities analysts recently issued reports on the company. ValuEngine raised Navios Maritime Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. JPMorgan Chase & Co. raised Navios Maritime Partners from a “neutral” rating to an “overweight” rating in a research note on Wednesday, October 17th. Finally, Zacks Investment Research raised Navios Maritime Partners from a “hold” rating to a “strong-buy” rating and set a $2.00 target price on the stock in a research note on Friday, October 19th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $2.27.

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a market cap of $196.08 million, a PE ratio of 7.56 and a beta of 1.47.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, November 13th. The shipping company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The company had revenue of $62.57 million for the quarter, compared to analyst estimates of $58.46 million. Navios Maritime Partners had a positive return on equity of 5.27% and a negative net margin of 15.62%. On average, research analysts predict that Navios Maritime Partners L.P. will post 0.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 6.61%. The ex-dividend date of this dividend was Tuesday, November 6th. Navios Maritime Partners’s dividend payout ratio is currently 50.00%.

A number of hedge funds have recently bought and sold shares of NMM. Millennium Management LLC raised its position in Navios Maritime Partners by 982.2% in the 1st quarter. Millennium Management LLC now owns 424,249 shares of the shipping company’s stock valued at $764,000 after purchasing an additional 385,048 shares in the last quarter. Evermore Global Advisors LLC raised its position in 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 valued at $20,398,000 after purchasing an additional 500,155 shares in the last quarter. Renaissance Technologies LLC raised its position in 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 valued at $4,460,000 after purchasing an additional 564,098 shares in the last quarter. Natixis raised its position in Navios Maritime Partners by 166.7% in the 2nd quarter. Natixis now owns 160,000 shares of the shipping company’s stock valued at $302,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in Navios Maritime Partners by 128.7% in the 2nd quarter. Macquarie Group Ltd. now owns 76,773 shares of the shipping company’s stock valued at $145,000 after purchasing an additional 43,200 shares in the last quarter. 17.38% of the stock is currently owned by institutional investors.

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Navios Maritime Partners Company Profile (NYSE:NMM)

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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