Navios Maritime Partners (NYSE:NMM) Shares Down 5.4% – Here’s Why

Navios Maritime Partners L.P. (NYSE:NMM) was down 5.4% on Wednesday . The company traded as low as $44.56 and last traded at $44.98. Approximately 166,728 shares were traded during mid-day trading, a decline of 8% from the average daily volume of 181,628 shares. The stock had previously closed at $47.55.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st. Jefferies Financial Group increased their price target on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th.

Navios Maritime Partners Trading Down 0.6 %

The company has a 50 day simple moving average of $53.62 and a 200 day simple moving average of $52.15. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.31 billion, a PE ratio of 3.34 and a beta of 1.95.

Navios Maritime Partners (NYSE:NMM) last issued its earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share for the quarter, missing the consensus estimate of $3.80 by ($0.65). The firm had revenue of $340.84 million during the quarter, compared to analysts’ expectations of $326.32 million. Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.66%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.68 EPS. Analysts predict that Navios Maritime Partners L.P. will post 12.37 earnings per share for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 12th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.46%. The ex-dividend date of this dividend was Tuesday, November 12th. Navios Maritime Partners’s payout ratio is 1.52%.

Institutional Trading of Navios Maritime Partners

A number of institutional investors have recently added to or reduced their stakes in NMM. Ieq Capital LLC purchased a new position in Navios Maritime Partners in the second quarter valued at about $2,064,000. Sei Investments Co. increased its stake in Navios Maritime Partners by 748.2% in the 2nd quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock valued at $2,812,000 after purchasing an additional 48,612 shares in the last quarter. Corsair Capital Management L.P. acquired a new position in Navios Maritime Partners during the third quarter worth $1,000,000. Pekin Hardy Strauss Inc. purchased a new stake in Navios Maritime Partners during the second quarter worth $1,375,000. Finally, Consolidated Portfolio Review Corp acquired a new stake in Navios Maritime Partners in the third quarter valued at $935,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

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.