Navios Maritime Partners (NYSE:NMM) Shares Cross Above 200-Day Moving Average – What’s Next?

Navios Maritime Partners LP (NYSE:NMM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $54.98 and traded as high as $65.49. Navios Maritime Partners shares last traded at $64.31, with a volume of 240,478 shares trading hands.

Analyst Ratings Changes

NMM has been the topic of several research reports. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 21st. Weiss Ratings upgraded Navios Maritime Partners from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy”.

Navios Maritime Partners Trading Up 0.4%

The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.13. The business’s 50-day simple moving average is $64.25 and its two-hundred day simple moving average is $55.21. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 7.05 and a beta of 1.23.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Thursday, February 19th. The shipping company reported $3.40 EPS for the quarter, beating analysts’ consensus estimates of $2.41 by $0.99. The business had revenue of $365.55 million for the quarter, compared to the consensus estimate of $316.00 million. Navios Maritime Partners had a net margin of 21.23% and a return on equity of 9.17%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $2.61 EPS. On average, research analysts anticipate that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 12th. Shareholders of record on Monday, February 9th were given a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $0.20 annualized dividend and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is 2.08%.

Insider Activity at Navios Maritime Partners

In related news, insider Angeliki Frangou bought 1,289 shares of the company’s stock in a transaction that occurred on Monday, March 23rd. The shares were acquired at an average cost of $64.87 per share, for a total transaction of $83,617.43. Following the acquisition, the insider owned 4,678,741 shares in the company, valued at $303,509,928.67. This represents a 0.03% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought a total of 3,771 shares of company stock worth $249,550 in the last 90 days.

Hedge Funds Weigh In On Navios Maritime Partners

Several large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its holdings in Navios Maritime Partners by 50.9% in the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after buying an additional 202 shares during the last quarter. State of Wyoming acquired a new position in shares of Navios Maritime Partners in the 4th quarter worth approximately $137,000. Corient Private Wealth LLC bought a new stake in shares of Navios Maritime Partners in the 4th quarter valued at approximately $207,000. Mariner LLC acquired a new stake in shares of Navios Maritime Partners during the 4th quarter valued at approximately $208,000. Finally, Cerity Partners LLC acquired a new stake in shares of Navios Maritime Partners during the 2nd quarter valued at approximately $212,000. Institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.