Short Interest in Navios Maritime Partners L.P. (NYSE:NMM) Drops By 19.5%

Navios Maritime Partners L.P. (NYSE:NMM - Get Free Report) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 208,700 shares, a decline of 19.5% from the September 30th total of 259,100 shares. Based on an average daily volume of 209,600 shares, the short-interest ratio is currently 1.0 days. Currently, 1.2% of the shares of the stock are short sold.

Institutional Trading of Navios Maritime Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Consolidated Portfolio Review Corp acquired a new position in shares of Navios Maritime Partners during the 3rd quarter valued at about $935,000. Merrion Investment Management Co LLC acquired a new position in Navios Maritime Partners in the 3rd quarter valued at about $401,000. Sei Investments Co. grew its stake in shares of 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 buying an additional 48,612 shares during the period. Ieq Capital LLC purchased a new stake in shares of Navios Maritime Partners in the 2nd quarter valued at approximately $2,064,000. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of Navios Maritime Partners during the 2nd quarter worth approximately $1,375,000. 62.74% of the stock is owned by institutional investors and hedge funds.

Navios Maritime Partners Price Performance

Shares of NYSE:NMM traded up $0.04 during midday trading on Friday, hitting $57.51. The company's stock had a trading volume of 83,797 shares, compared to its average volume of 177,879. Navios Maritime Partners has a 12-month low of $21.18 and a 12-month high of $65.89. The company has a market cap of $1.74 billion, a P/E ratio of 4.34 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. The business's 50 day simple moving average is $57.03 and its 200 day simple moving average is $50.87.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last issued its 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. Navios Maritime Partners had a return on equity of 13.63% and a net margin of 30.28%. The business had revenue of $342.20 million for the quarter, compared to analysts' expectations of $312.39 million. During the same period in the previous year, the firm posted $3.32 EPS. The business's revenue for the quarter was down 1.4% compared to the same quarter last year. On average, analysts forecast that Navios Maritime Partners will post 14.37 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on NMM. Jefferies Financial Group increased their target price on Navios Maritime Partners from $65.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, September 19th. StockNews.com raised Navios Maritime Partners from a "hold" rating to a "buy" rating in a research note on Wednesday, August 21st.

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.