Shares of Navios Maritime Partners L.P. (NYSE:NMM) are scheduled to reverse split before the market opens on Tuesday, May 21st. The 1-15 reverse split was announced on Thursday, April 25th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, May 20th.
NMM stock opened at $0.94 on Monday. The company has a market capitalization of $156.00 million, a price-to-earnings ratio of 4.27 and a beta of 1.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.12 and a quick ratio of 2.12. Navios Maritime Partners has a one year low of $0.78 and a one year high of $2.11.
Navios Maritime Partners (NYSE:NMM) last released its earnings results on Friday, May 3rd. The shipping company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The firm had revenue of $46.82 million during the quarter, compared to analysts’ expectations of $50.41 million. Navios Maritime Partners had a negative net margin of 12.47% and a positive return on equity of 3.65%.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 14th. Shareholders of record on Friday, May 10th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.08 annualized dividend and a yield of 8.51%. Navios Maritime Partners’s payout ratio is currently 36.36%.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Navios Maritime Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. ValuEngine raised shares of Navios Maritime Partners from a “sell” rating to a “hold” rating in a research note on Monday, April 1st.
A number of hedge funds have recently added to or reduced their stakes in NMM. Renaissance Technologies LLC grew its stake in Navios Maritime Partners by 10.2% in the 3rd quarter. Renaissance Technologies LLC now owns 2,601,200 shares of the shipping company’s stock worth $4,552,000 after acquiring an additional 241,302 shares during the period. Two Sigma Securities LLC grew its stake in Navios Maritime Partners by 235.2% in the 4th quarter. Two Sigma Securities LLC now owns 38,535 shares of the shipping company’s stock worth $33,000 after acquiring an additional 27,039 shares during the period. Globeflex Capital L P purchased a new stake in Navios Maritime Partners in the 4th quarter worth approximately $750,000. Macquarie Group Ltd. grew its stake in Navios Maritime Partners by 97.6% in the 4th quarter. Macquarie Group Ltd. now owns 44,409 shares of the shipping company’s stock worth $38,000 after acquiring an additional 21,937 shares during the period. Finally, Deutsche Bank AG grew its stake in Navios Maritime Partners by 983.2% in the 4th quarter. Deutsche Bank AG now owns 1,224,668 shares of the shipping company’s stock worth $1,039,000 after acquiring an additional 1,111,609 shares during the period. 12.76% of the stock is owned by hedge funds and other institutional investors.
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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 dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.
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