Marnell Management LLC Takes $5.03 Million Position in Navios Maritime Partners LP $NMM

Marnell Management LLC acquired a new stake in Navios Maritime Partners LP (NYSE:NMM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 95,884 shares of the shipping company’s stock, valued at approximately $5,027,000. Navios Maritime Partners accounts for approximately 2.4% of Marnell Management LLC’s investment portfolio, making the stock its 9th largest position.

A number of other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. increased its holdings in shares of Navios Maritime Partners by 5.6% in the third quarter. Raymond James Financial Inc. now owns 7,192 shares of the shipping company’s stock valued at $324,000 after purchasing an additional 380 shares during the period. Moors & Cabot Inc. increased its holdings in shares of Navios Maritime Partners by 0.8% in the third quarter. Moors & Cabot Inc. now owns 92,682 shares of the shipping company’s stock valued at $4,175,000 after purchasing an additional 750 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Navios Maritime Partners by 25.4% in the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock valued at $290,000 after purchasing an additional 1,559 shares during the period. Live Oak Investment Partners increased its holdings in shares of Navios Maritime Partners by 6.8% in the fourth quarter. Live Oak Investment Partners now owns 32,280 shares of the shipping company’s stock valued at $1,692,000 after purchasing an additional 2,063 shares during the period. Finally, State of Wyoming acquired a new position in shares of Navios Maritime Partners in the fourth quarter valued at about $137,000. 62.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NMM has been the topic of a number of research reports. Wall Street Zen raised Navios Maritime Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 21st. Jefferies Financial Group initiated coverage on Navios Maritime Partners in a report on Friday, April 24th. They issued a “buy” rating and a $85.00 price objective on the stock. Finally, Weiss Ratings lowered Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Insider Buying and Selling

In related news, insider Angeliki Frangou bought 1,155 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $73.34 per share, with a total value of $84,707.70. Following the completion of the acquisition, the insider directly owned 4,744,715 shares in the company, valued at approximately $347,977,398.10. The trade was a 0.02% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 60,982 shares of company stock worth $4,352,784 over the last quarter.

Navios Maritime Partners Stock Down 0.3%

Navios Maritime Partners stock opened at $75.05 on Monday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 6.32 and a beta of 1.02. Navios Maritime Partners LP has a 52 week low of $36.62 and a 52 week high of $80.69. The business’s 50-day moving average price is $71.68 and its 200 day moving average price is $63.67. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, May 21st. The shipping company reported $3.35 EPS for the quarter, topping the consensus estimate of $2.77 by $0.58. The firm had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a return on equity of 10.48% and a net margin of 25.05%.Navios Maritime Partners’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share.

Navios Maritime Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Monday, May 11th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. This is a positive change from Navios Maritime Partners’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, May 11th. Navios Maritime Partners’s dividend payout ratio is 2.02%.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.