Navios Maritime Partners (NYSE:NMM) Upgraded at StockNews.com

Navios Maritime Partners (NYSE:NMM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

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

Navios Maritime Partners Price Performance

Shares of NMM traded down $1.28 during trading hours on Thursday, reaching $43.46. 167,627 shares of the company’s stock traded hands, compared to its average volume of 138,983. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.59. The firm’s 50 day simple moving average is $46.88 and its 200-day simple moving average is $51.19. The stock has a market cap of $1.30 billion, a PE ratio of 3.30 and a beta of 1.97. Navios Maritime Partners has a 12 month low of $27.47 and a 12 month high of $65.89.

Navios Maritime Partners (NYSE:NMM) last announced its earnings results on Tuesday, November 5th. The shipping company reported $3.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.80 by ($0.65). The company had revenue of $340.84 million for the quarter, compared to the consensus estimate of $326.32 million. Navios Maritime Partners had a net margin of 30.48% and a return on equity of 13.66%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.68 earnings per share. Equities analysts expect that Navios Maritime Partners will post 11.89 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BNP Paribas Financial Markets grew its holdings in shares of Navios Maritime Partners by 21.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock valued at $135,000 after purchasing an additional 384 shares during the last quarter. Merrion Investment Management Co LLC purchased a new stake in Navios Maritime Partners during the third quarter valued at about $401,000. Virtu Financial LLC bought a new position in shares of Navios Maritime Partners during the third quarter valued at about $511,000. Consolidated Portfolio Review Corp purchased a new position in shares of Navios Maritime Partners in the third quarter worth about $935,000. Finally, Corsair Capital Management L.P. bought a new stake in shares of Navios Maritime Partners in the 3rd quarter valued at about $1,000,000. 62.74% of the stock is owned by hedge funds and other institutional investors.

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.