Navios Maritime Partners (NYSE:NMM) Shares Down 3.8% – Should You Sell?

Shares of Navios Maritime Partners L.P. (NYSE:NMM) traded down 3.8% during trading on Monday . The company traded as low as $49.21 and last traded at $49.82. 71,487 shares traded hands during trading, a decline of 61% from the average session volume of 182,736 shares. The stock had previously closed at $51.80.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NMM. StockNews.com upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, August 21st. Jefferies Financial Group lifted their price objective on Navios Maritime Partners from $65.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, September 19th.

Navios Maritime Partners Price Performance

The stock has a fifty day moving average price of $57.19 and a 200-day moving average price of $52.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $1.48 billion, a PE ratio of 3.74 and a beta of 1.99.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Tuesday, November 5th. The shipping company reported $3.15 EPS for the quarter, missing the consensus estimate of $3.80 by ($0.65). Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.86%. The business had revenue of $340.84 million for the quarter, compared to analysts’ expectations of $326.32 million. During the same quarter in the prior year, the company posted $2.68 EPS. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts forecast that Navios Maritime Partners L.P. will post 12.37 EPS for the current fiscal year.

Navios Maritime Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.20 annualized dividend and a dividend yield of 0.41%. Navios Maritime Partners’s payout ratio is currently 1.52%.

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently made changes to their positions in NMM. BNP Paribas Financial Markets increased its holdings in shares of 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 valued at $53,000 after purchasing an additional 1,228 shares in the last quarter. Merrion Investment Management Co LLC acquired a new stake in Navios Maritime Partners during the third quarter valued at $401,000. Virtu Financial LLC purchased a new position in shares of Navios Maritime Partners in the 3rd quarter valued at about $511,000. Tactive Advisors LLC acquired a new position in Navios Maritime Partners in the 1st quarter worth about $442,000. Finally, Acadian Asset Management LLC purchased a new position in Navios Maritime Partners during the first quarter worth approximately $555,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

About Navios Maritime Partners

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.