Navios Maritime Partners LP $NMM is Gratia Capital LLC’s 10th Largest Position

Gratia Capital LLC lessened its stake in Navios Maritime Partners LP (NYSE:NMM) by 48.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,967 shares of the shipping company’s stock after selling 48,889 shares during the quarter. Navios Maritime Partners makes up approximately 2.2% of Gratia Capital LLC’s portfolio, making the stock its 10th biggest holding. Gratia Capital LLC owned 0.18% of Navios Maritime Partners worth $3,711,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Royal Bank of Canada increased its position 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 worth $32,000 after buying an additional 202 shares during the last quarter. Valley Wealth Managers Inc. bought a new position in shares of Navios Maritime Partners during the 1st quarter worth $63,000. State of Wyoming purchased a new stake in Navios Maritime Partners during the fourth quarter valued at about $137,000. Corient Private Wealth LLC purchased a new stake in Navios Maritime Partners during the fourth quarter valued at about $207,000. Finally, Mariner LLC bought a new position in Navios Maritime Partners during the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Analysts Set New Price Targets

NMM has been the topic of several research reports. Jefferies Financial Group boosted their price target on shares of Navios Maritime Partners from $85.00 to $100.00 and gave the company a “buy” rating in a research report on Monday, August 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Navios Maritime Partners in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Navios Maritime Partners presently has an average rating of “Moderate Buy” and an average price target of $100.00.

Insiders Place Their Bets

In other news, insider Angeliki Frangou purchased 1,062 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $79.16 per share, with a total value of $84,067.92. Following the completion of the purchase, the insider directly owned 4,790,901 shares in the company, valued at approximately $379,247,723.16. This trade represents a 0.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 42,838 shares of company stock worth $3,211,238 in the last quarter.

Navios Maritime Partners Trading Up 0.6%

Shares of Navios Maritime Partners stock opened at $90.75 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.53 and a quick ratio of 1.53. Navios Maritime Partners LP has a 1 year low of $43.02 and a 1 year high of $92.70. The firm has a market cap of $2.60 billion, a PE ratio of 5.93 and a beta of 0.99. The company has a 50 day simple moving average of $80.97 and a two-hundred day simple moving average of $73.92.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, August 27th. The shipping company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.30. Navios Maritime Partners had a net margin of 30.27% and a return on equity of 12.24%. The firm had revenue of $410.17 million for the quarter, compared to analysts’ expectations of $360.83 million. During the same quarter last year, the company posted $2.15 EPS. The business’s quarterly revenue was up 25.2% on a year-over-year basis.

Navios Maritime Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given a dividend of $0.06 per share. The ex-dividend date was Monday, August 10th. This represents a $0.24 dividend on an annualized basis and a yield of 0.3%. Navios Maritime Partners’s dividend payout ratio (DPR) is presently 1.57%.

Navios Maritime Partners 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.