Navios Maritime Partners (NYSE:NMM) Downgraded to Hold Rating by StockNews.com

Navios Maritime Partners (NYSE:NMM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Jefferies Financial Group lifted their price target on shares of Navios Maritime Partners from $65.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th.

Navios Maritime Partners Stock Down 1.9 %

Navios Maritime Partners stock traded down $0.82 during trading hours on Wednesday, hitting $42.35. The stock had a trading volume of 222,607 shares, compared to its average volume of 183,280. The stock’s 50-day moving average price is $52.45 and its 200-day moving average price is $52.09. Navios Maritime Partners has a 12-month low of $26.81 and a 12-month high of $65.89. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $1.27 billion, a P/E ratio of 3.21 and a beta of 1.95.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Tuesday, November 5th. The shipping company reported $3.15 EPS for the quarter, missing analysts’ consensus estimates of $3.80 by ($0.65). The business had revenue of $340.84 million during the quarter, compared to the consensus estimate of $326.32 million. Navios Maritime Partners had a return on equity of 13.66% and a net margin of 30.48%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.68 EPS. Equities research analysts anticipate that Navios Maritime Partners will post 12.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors have recently made changes to their positions in the business. Ieq Capital LLC purchased a new stake in shares of Navios Maritime Partners in the 2nd quarter worth $2,064,000. Sei Investments Co. increased its holdings in Navios Maritime Partners by 748.2% in the 2nd quarter. Sei Investments Co. now owns 55,109 shares of the shipping company’s stock worth $2,812,000 after acquiring an additional 48,612 shares in the last quarter. Corsair Capital Management L.P. purchased a new position in Navios Maritime Partners during the third quarter valued at approximately $1,000,000. Pekin Hardy Strauss Inc. bought a new position in shares of Navios Maritime Partners in the second quarter worth approximately $1,375,000. Finally, Consolidated Portfolio Review Corp purchased a new stake in shares of Navios Maritime Partners in the third quarter worth $935,000. Institutional investors 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.