Navios Maritime Partners (NYSE:NMM) Sets New 52-Week Low – Here’s What Happened

Navios Maritime Partners L.P. (NYSE:NMM) hit a new 52-week low during trading on Wednesday . The stock traded as low as $29.02 and last traded at $29.56, with a volume of 275746 shares. The stock had previously closed at $31.35.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th.

Navios Maritime Partners Price Performance

The stock has a market capitalization of $877.61 million, a PE ratio of 2.46 and a beta of 1.65. The business’s 50-day moving average price is $40.50 and its 200 day moving average price is $47.22. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.13 and a current ratio of 1.13.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, February 13th. The shipping company reported $2.61 EPS for the quarter, missing the consensus estimate of $4.54 by ($1.93). The business had revenue of $302.99 million for the quarter, compared to analysts’ expectations of $340.83 million. Navios Maritime Partners had a return on equity of 11.64% and a net margin of 27.53%. Research analysts forecast that Navios Maritime Partners L.P. will post 12.64 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Shareholders of record on Monday, February 10th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. Navios Maritime Partners’s dividend payout ratio is presently 1.67%.

Institutional Trading of Navios Maritime Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ion Asset Management Ltd. increased its stake in Navios Maritime Partners by 81.9% in the fourth quarter. Ion Asset Management Ltd. now owns 805,678 shares of the shipping company’s stock valued at $34,878,000 after acquiring an additional 362,678 shares during the last quarter. ING Groep NV increased its position in shares of Navios Maritime Partners by 446.2% during the 4th quarter. ING Groep NV now owns 71,000 shares of the shipping company’s stock valued at $3,074,000 after purchasing an additional 58,000 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Navios Maritime Partners by 38.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 160,834 shares of the shipping company’s stock valued at $6,963,000 after buying an additional 44,576 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Navios Maritime Partners in the 4th quarter worth approximately $769,000. Finally, JPMorgan Chase & Co. boosted its stake in Navios Maritime Partners by 14,685.5% in the fourth quarter. JPMorgan Chase & Co. now owns 16,264 shares of the shipping company’s stock worth $704,000 after buying an additional 16,154 shares in the last quarter. 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.