Merrion Investment Management Co LLC Makes New $401,000 Investment in Navios Maritime Partners L.P. (NYSE:NMM)

Merrion Investment Management Co LLC acquired a new stake in shares of Navios Maritime Partners L.P. (NYSE:NMM) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 6,400 shares of the shipping company’s stock, valued at approximately $401,000.

Several other institutional investors and hedge funds have also modified their holdings of NMM. BNP Paribas Financial Markets raised its holdings in Navios Maritime Partners by 30,700.0% during the 1st quarter. BNP Paribas Financial Markets now owns 1,232 shares of the shipping company’s stock worth $53,000 after buying an additional 1,228 shares during the period. Westhampton Capital LLC bought a new position in Navios Maritime Partners during the 1st quarter worth about $241,000. Aristides Capital LLC acquired a new stake in shares of Navios Maritime Partners in the 1st quarter valued at about $361,000. Tactive Advisors LLC bought a new stake in shares of Navios Maritime Partners in the first quarter valued at about $442,000. Finally, Virtu Financial LLC acquired a new position in shares of Navios Maritime Partners during the first quarter worth about $452,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NMM has been the topic of a number of recent research reports. StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st. Jefferies Financial Group boosted their price objective on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th.

Navios Maritime Partners Trading Up 0.0 %

Navios Maritime Partners stock opened at $61.53 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.69 and a quick ratio of 0.69. The firm has a 50-day moving average of $54.01 and a 200-day moving average of $49.54. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 4.77 and a beta of 1.97. Navios Maritime Partners L.P. has a one year low of $21.18 and a one year high of $65.89.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.84 by $0.22. Navios Maritime Partners had a return on equity of 13.63% and a net margin of 30.28%. The firm had revenue of $342.20 million during the quarter, compared to the consensus estimate of $312.39 million. During the same period last year, the company earned $3.32 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts expect that Navios Maritime Partners L.P. will post 14.37 earnings per share for the current fiscal year.

Navios Maritime Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Friday, August 9th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.33%. The ex-dividend date was Friday, August 9th. Navios Maritime Partners’s dividend payout ratio (DPR) is currently 1.55%.

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.