Navios Maritime Partners (NYSE:NMM) Reaches New 52-Week Low – What’s Next?

Navios Maritime Partners L.P. (NYSE:NMM) shares hit a new 52-week low during trading on Thursday . The company traded as low as $37.12 and last traded at $37.49, with a volume of 26209 shares changing hands. The stock had previously closed at $39.84.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research report on Thursday, March 13th.

Navios Maritime Partners Trading Down 7.4 %

The firm’s 50-day simple moving average is $41.50 and its 200 day simple moving average is $48.09. The firm has a market cap of $1.10 billion, a P/E ratio of 3.08 and a beta of 1.87. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.59.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings data on Thursday, February 13th. The shipping company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $4.54 by ($1.93). The firm had revenue of $302.99 million for the quarter, compared to the consensus estimate of $340.83 million. Navios Maritime Partners had a net margin of 27.53% and a return on equity of 11.64%. As a group, analysts expect that Navios Maritime Partners L.P. will post 12.64 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Monday, February 10th. Navios Maritime Partners’s dividend payout ratio is currently 1.67%.

Hedge Funds Weigh In On Navios Maritime Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets lifted its stake 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 buying an additional 384 shares in the last quarter. Walleye Capital LLC boosted its holdings in shares of Navios Maritime Partners by 4,002.4% in the third quarter. Walleye Capital LLC now owns 35,512 shares of the shipping company’s stock worth $2,224,000 after acquiring an additional 36,422 shares during the period. Virtu Financial LLC bought a new position in Navios Maritime Partners in the 3rd quarter worth about $511,000. Merrion Investment Management Co LLC raised its holdings in shares of Navios Maritime Partners by 56.9% in the 4th quarter. Merrion Investment Management Co LLC now owns 10,040 shares of the shipping company’s stock valued at $435,000 after acquiring an additional 3,640 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. increased its stake in Navios Maritime Partners by 9.4% in the fourth quarter. Mraz Amerine & Associates Inc. now owns 32,694 shares of the shipping company’s stock valued at $1,415,000 after acquiring an additional 2,798 shares during the last quarter. 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.