Navios Maritime Partners (NYSE:NMM) Hits New 12-Month Low – Here’s Why

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

Analysts Set New Price Targets

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

Navios Maritime Partners Trading Down 0.9 %

The company has a 50 day moving average of $39.84 and a 200 day moving average of $46.69. The firm has a market cap of $921.40 million, a price-to-earnings ratio of 2.59 and a beta of 1.65. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59.

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

Navios Maritime Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 13th. Stockholders of record on Monday, February 10th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.64%. Navios Maritime Partners’s payout ratio is 1.67%.

Institutional Trading of Navios Maritime Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in shares of Navios Maritime Partners by 21.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock valued at $135,000 after buying an additional 384 shares during the period. LPL Financial LLC acquired a new stake in Navios Maritime Partners in the fourth quarter worth about $204,000. Raymond James Financial Inc. acquired a new position in Navios Maritime Partners during the 4th quarter valued at about $219,000. First Trust Advisors LP boosted its stake in shares of Navios Maritime Partners by 23.7% in 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 during the last quarter. Finally, Merrion Investment Management Co LLC grew its position in shares of Navios Maritime Partners by 56.9% during the 4th 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 period. Institutional investors and hedge funds 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.