Navios Maritime Partners (NYSE:NMM) Stock Rating Upgraded by Wall Street Zen

Navios Maritime Partners (NYSE:NMM) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Navios Maritime Partners in a research report on Monday, December 8th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Navios Maritime Partners Price Performance

Shares of NMM stock opened at $51.16 on Friday. Navios Maritime Partners has a 52 week low of $28.37 and a 52 week high of $56.44. The stock has a market capitalization of $1.52 billion, a PE ratio of 5.86 and a beta of 1.43. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.03 and a current ratio of 1.03. The stock’s fifty day moving average is $49.62 and its 200-day moving average is $45.35.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Tuesday, November 18th. The shipping company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.28. The firm had revenue of $346.92 million during the quarter, compared to analysts’ expectations of $334.64 million. Navios Maritime Partners had a return on equity of 8.69% and a net margin of 20.04%.The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $3.15 EPS. Equities research analysts expect that Navios Maritime Partners will post 12.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Navios Maritime Partners

A number of hedge funds have recently made changes to their positions in NMM. Ion Asset Management Ltd. grew its stake in Navios Maritime Partners by 2.2% during the second quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company’s stock worth $30,821,000 after purchasing an additional 17,285 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Navios Maritime Partners by 1.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 158,749 shares of the shipping company’s stock worth $7,152,000 after acquiring an additional 2,045 shares during the last quarter. Bank of America Corp DE grew its position in Navios Maritime Partners by 28.8% in the 3rd quarter. Bank of America Corp DE now owns 117,950 shares of the shipping company’s stock worth $5,314,000 after purchasing an additional 26,340 shares in the last quarter. ING Groep NV raised its stake in shares of Navios Maritime Partners by 123.6% during the 3rd quarter. ING Groep NV now owns 96,600 shares of the shipping company’s stock worth $4,352,000 after purchasing an additional 53,400 shares during the period. Finally, Moors & Cabot Inc. increased its position in shares of Navios Maritime Partners by 0.8% during the 3rd quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock valued at $4,175,000 after purchasing an additional 750 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.