Navios Maritime Partners (NYSE:NMM - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.
Navios Maritime Partners Stock Up 1.0 %
Navios Maritime Partners stock traded up $0.42 on Tuesday, hitting $40.67. 76,844 shares of the stock traded hands, compared to its average volume of 167,002. Navios Maritime Partners has a 1 year low of $37.87 and a 1 year high of $65.89. The firm has a market cap of $1.22 billion, a P/E ratio of 3.39 and a beta of 1.87. 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 business's fifty day simple moving average is $43.09 and its 200 day simple moving average is $49.75.
Navios Maritime Partners (NYSE:NMM - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The shipping company reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.54 by ($1.93). Navios Maritime Partners had a net margin of 27.53% and a return on equity of 11.64%. The business had revenue of $302.99 million for the quarter, compared to analysts' expectations of $340.83 million. As a group, sell-side analysts forecast that Navios Maritime Partners will post 12.64 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its stake in shares of Navios Maritime Partners by 21.8% in 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 during the last quarter. LPL Financial LLC bought a new position in Navios Maritime Partners in the 4th quarter worth about $204,000. Raymond James Financial Inc. purchased a new stake in Navios Maritime Partners during the 4th quarter valued at about $219,000. First Trust Advisors LP increased its stake in Navios Maritime Partners by 23.7% during the 4th quarter. First Trust Advisors LP now owns 5,325 shares of the shipping company's stock valued at $231,000 after purchasing an additional 1,020 shares in the last quarter. Finally, Merrion Investment Management Co LLC raised its holdings in Navios Maritime Partners by 56.9% in the fourth quarter. Merrion Investment Management Co LLC now owns 10,040 shares of the shipping company's stock worth $435,000 after buying an additional 3,640 shares during the last quarter. Institutional investors own 62.74% of the company's stock.
Navios Maritime Partners Company Profile
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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.
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