Navios Maritime Partners LP $NMM Holdings Lowered by Gratia Capital LLC

Gratia Capital LLC trimmed its holdings in Navios Maritime Partners LP (NYSE:NMM) by 48.0% in the second quarter, HoldingsChannel reports. The fund owned 52,967 shares of the shipping company’s stock after selling 48,889 shares during the period. Navios Maritime Partners makes up 2.2% of Gratia Capital LLC’s investment portfolio, making the stock its 10th biggest position. Gratia Capital LLC’s holdings in Navios Maritime Partners were worth $3,711,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Navios Maritime Partners by 50.9% during the 4th quarter. Royal Bank of Canada now owns 599 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 202 shares during the last quarter. Susquehanna Fundamental Investments LLC boosted its position in 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 buying an additional 375 shares during the period. Raymond James Financial Inc. boosted its position in 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 buying an additional 380 shares during the period. Valley Wealth Managers Inc. bought a new position in shares of Navios Maritime Partners during the first quarter valued at about $63,000. Finally, BNP Paribas Financial Markets grew its stake 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 buying an additional 1,559 shares during the last quarter. Institutional investors own 62.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NMM. Weiss Ratings reissued a “hold (c+)” rating on shares of Navios Maritime Partners in a research note on Tuesday, August 25th. Jefferies Financial Group raised their price target on Navios Maritime Partners from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Navios Maritime Partners Trading Up 0.6%

Shares of NMM opened at $90.75 on Thursday. Navios Maritime Partners LP has a 1-year low of $43.02 and a 1-year high of $92.70. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $80.97 and its 200-day moving average price is $73.92. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 5.93 and a beta of 0.99.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results 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 company had revenue of $410.17 million for the quarter, compared to analyst estimates of $360.83 million. During the same period in the previous year, the company posted $2.15 earnings per share. The firm’s revenue was up 25.2% on a year-over-year basis.

Navios Maritime Partners Dividend Announcement

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

Insider Activity

In other news, insider Angeliki Frangou purchased 1,208 shares of Navios Maritime Partners stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average price of $68.88 per share, with a total value of $83,207.04. Following the completion of the transaction, the insider directly owned 4,757,419 shares of the company’s stock, valued at approximately $327,691,020.72. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 42,838 shares of company stock valued at $3,211,238 in the last 90 days.

Navios Maritime Partners 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.