Corsair Capital Management L.P. Invests $1 Million in Navios Maritime Partners L.P. (NYSE:NMM)

Corsair Capital Management L.P. acquired a new position in Navios Maritime Partners L.P. (NYSE:NMM - Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 15,959 shares of the shipping company's stock, valued at approximately $1,000,000. Corsair Capital Management L.P. owned approximately 0.05% of Navios Maritime Partners as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its stake in Navios Maritime Partners by 21.8% during the third quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company's stock worth $135,000 after acquiring an additional 384 shares in the last quarter. Pekin Hardy Strauss Inc. lifted its holdings in shares of Navios Maritime Partners by 3.2% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 27,825 shares of the shipping company's stock worth $1,743,000 after acquiring an additional 875 shares during the last quarter. Commonwealth Equity Services LLC increased its stake in Navios Maritime Partners by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 131,707 shares of the shipping company's stock worth $6,721,000 after buying an additional 2,169 shares during the period. Moors & Cabot Inc. increased its position in Navios Maritime Partners by 4.0% during the 3rd quarter. Moors & Cabot Inc. now owns 74,130 shares of the shipping company's stock valued at $4,643,000 after purchasing an additional 2,850 shares during the period. Finally, Merrion Investment Management Co LLC purchased a new position in shares of Navios Maritime Partners in the 3rd quarter worth approximately $401,000. 62.74% of the stock is owned by institutional investors.

Navios Maritime Partners Stock Performance

NMM traded up $0.29 during trading hours on Wednesday, hitting $47.88. The company's stock had a trading volume of 149,526 shares, compared to its average volume of 183,463. Navios Maritime Partners L.P. has a fifty-two week low of $24.51 and a fifty-two week high of $65.89. The firm has a market capitalization of $1.43 billion, a PE ratio of 3.62 and a beta of 1.99. The company has a 50-day simple moving average of $56.88 and a 200 day simple moving average of $52.22. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.49.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The shipping company reported $3.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.80 by ($0.65). The firm had revenue of $340.84 million for the quarter, compared to analyst estimates of $326.32 million. Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.86%. Navios Maritime Partners's revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.68 EPS. As a group, sell-side analysts expect that Navios Maritime Partners L.P. will post 12.37 EPS for the current year.

Navios Maritime Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Tuesday, November 12th. Navios Maritime Partners's payout ratio is 1.52%.

Analyst Ratings Changes

A number of research firms have recently issued reports on NMM. StockNews.com raised shares of 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 Navios Maritime Partners from $65.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, September 19th.

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.