Navios Maritime Partners (NYSE:NMM) Reaches New 1-Year High – Still a Buy?

Navios Maritime Partners LP (NYSE:NMM) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $92.70 and last traded at $90.3690, with a volume of 166137 shares changing hands. The stock had previously closed at $92.16.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Navios Maritime Partners in a research report on Tuesday, August 25th. Jefferies Financial Group upped their target price on Navios Maritime Partners from $85.00 to $100.00 and gave the company a “buy” rating in a report on Monday, August 24th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Navios Maritime Partners Price Performance

The company has a market cap of $2.59 billion, a PE ratio of 5.90 and a beta of 0.99. The firm’s 50-day moving average is $80.57 and its 200-day moving average is $73.75. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings data on Thursday, August 27th. The shipping company reported $4.65 earnings per share for the quarter, beating the consensus estimate of $4.35 by $0.30. Navios Maritime Partners had a return on equity of 12.24% and a net margin of 30.27%.The business had revenue of $410.17 million for the quarter, compared to analysts’ expectations of $360.83 million. During the same period in the previous year, the firm posted $2.15 EPS. The business’s revenue was up 25.2% on a year-over-year basis.

Navios Maritime Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a dividend of $0.06 per share. The ex-dividend date was Monday, August 10th. This represents a $0.24 annualized dividend and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is currently 1.57%.

Insiders Place Their Bets

In other news, insider Angeliki Frangou acquired 1,062 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was acquired at an average price of $79.16 per share, for a total transaction of $84,067.92. Following the completion of the acquisition, the insider owned 4,790,901 shares in the company, valued at $379,247,723.16. This trade represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders acquired 43,993 shares of company stock valued at $3,295,946 over the last 90 days.

Institutional Trading of Navios Maritime Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of Navios Maritime Partners by 50.9% in the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock worth $32,000 after acquiring an additional 202 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in shares of Navios Maritime Partners by 2.1% during the second quarter. Susquehanna Fundamental Investments LLC now owns 18,381 shares of the shipping company’s stock valued at $1,288,000 after purchasing an additional 375 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of Navios Maritime Partners by 5.6% during 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 in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Navios Maritime Partners during the first quarter valued at approximately $63,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Navios Maritime Partners by 25.4% during 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 last quarter. 62.74% of the stock is owned by hedge funds and other institutional investors.

About Navios Maritime Partners

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.