Navios Maritime Partners (NYSE:NMM) Shares Cross Above 200 Day Moving Average - Here's Why

Navios Maritime Partners L.P. (NYSE:NMM - Get Free Report) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $50.10 and traded as high as $59.37. Navios Maritime Partners shares last traded at $58.70, with a volume of 315,305 shares trading hands.

Analyst Ratings Changes

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 upped their price target on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the company a "buy" rating in a research note on Thursday, September 19th.

Navios Maritime Partners Trading Up 2.0 %

The firm has a 50 day simple moving average of $55.80 and a 200 day simple moving average of $50.21. The firm has a market cap of $1.77 billion, a P/E ratio of 4.43 and a beta of 1.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.69 and a current ratio of 0.69.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last released its quarterly earnings results on Tuesday, August 20th. The shipping company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.84 by $0.22. The firm had revenue of $342.20 million for the quarter, compared to analysts' expectations of $312.39 million. Navios Maritime Partners had a net margin of 30.28% and a return on equity of 13.63%. The business's quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.32 earnings per share. On average, equities research analysts predict that Navios Maritime Partners L.P. will post 14.37 EPS for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Friday, August 9th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Friday, August 9th. Navios Maritime Partners's payout ratio is 1.51%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NMM. BNP Paribas Financial Markets raised 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 buying an additional 1,228 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of 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 acquiring an additional 2,169 shares during the last quarter. Westhampton Capital LLC bought a new stake in shares of Navios Maritime Partners in the 1st quarter worth approximately $241,000. Merrion Investment Management Co LLC purchased a new stake in shares of Navios Maritime Partners in the 3rd quarter valued at $401,000. Finally, Aristides Capital LLC bought a new position in shares of Navios Maritime Partners during the 1st quarter valued at $361,000. Institutional investors own 62.74% of the company's stock.

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.