Navios Maritime Partners (NYSE:NMM) Share Price Crosses Above 200-Day Moving Average – Time to Sell?

Navios Maritime Partners LP (NYSE:NMM) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $41.06 and traded as high as $46.10. Navios Maritime Partners shares last traded at $45.99, with a volume of 155,157 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Navios Maritime Partners in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Navios Maritime Partners Price Performance

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $1.37 billion, a P/E ratio of 4.59 and a beta of 1.54. The business has a fifty day moving average of $46.34 and a 200-day moving average of $41.06.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, August 21st. The shipping company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.41. Navios Maritime Partners had a return on equity of 9.24% and a net margin of 23.31%.The company had revenue of $327.56 million during the quarter, compared to analyst estimates of $309.58 million. During the same quarter in the previous year, the firm posted $3.06 EPS. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts forecast that Navios Maritime Partners LP will post 12.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Navios Maritime Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Merrion Investment Management Co LLC increased its stake in Navios Maritime Partners by 0.4% during the 3rd quarter. Merrion Investment Management Co LLC now owns 65,250 shares of the shipping company’s stock valued at $2,940,000 after buying an additional 250 shares during the period. Live Oak Investment Partners boosted its holdings in shares of Navios Maritime Partners by 1.3% in the second quarter. Live Oak Investment Partners now owns 28,537 shares of the shipping company’s stock valued at $1,075,000 after acquiring an additional 375 shares in the last quarter. Mraz Amerine & Associates Inc. increased its stake in shares of Navios Maritime Partners by 1.4% during the first quarter. Mraz Amerine & Associates Inc. now owns 33,145 shares of the shipping company’s stock valued at $1,289,000 after acquiring an additional 451 shares during the period. Allworth Financial LP bought a new stake in Navios Maritime Partners during the second quarter worth approximately $47,000. Finally, BNP Paribas Financial Markets lifted its position in Navios Maritime Partners by 25.4% in the second quarter. BNP Paribas Financial Markets now owns 7,706 shares of the shipping company’s stock worth $290,000 after purchasing an additional 1,559 shares during the period. 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.