Jefferies Financial Group Issues Positive Forecast for Navios Maritime Partners (NYSE:NMM) Stock Price

Navios Maritime Partners (NYSE:NMM) had its price objective lifted by research analysts at Jefferies Financial Group from $85.00 to $100.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the shipping company’s stock. Jefferies Financial Group’s target price indicates a potential upside of 12.87% from the stock’s current price.

Separately, Weiss Ratings cut shares of Navios Maritime Partners from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $100.00.

Navios Maritime Partners Trading Down 0.2%

NYSE:NMM opened at $88.60 on Monday. The firm has a fifty day simple moving average of $76.14 and a two-hundred day simple moving average of $71.36. Navios Maritime Partners has a 12 month low of $43.02 and a 12 month high of $89.81. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of 5.79 and a beta of 1.02. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.57.

Navios Maritime Partners (NYSE:NMM) last posted its quarterly earnings results on Thursday, August 20th. The shipping company reported $4.65 earnings per share for the quarter, topping analysts’ consensus estimates of $4.35 by $0.30. Navios Maritime Partners had a return on equity of 12.48% and a net margin of 30.27%.The business had revenue of $410.17 million for the quarter, compared to the consensus estimate of $360.83 million. During the same period in the prior year, the business earned $2.15 EPS. The firm’s revenue for the quarter was up 25.2% on a year-over-year basis.

Insider Activity at Navios Maritime Partners

In other news, insider Angeliki Frangou bought 1,062 shares of the stock in a transaction dated Wednesday, August 12th. The stock was bought at an average price of $79.16 per share, for a total transaction of $84,067.92. Following the completion of the acquisition, the insider directly owned 4,790,901 shares in the company, valued at approximately $379,247,723.16. This trade represents a 0.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have bought a total of 57,950 shares of company stock valued at $4,297,068 in the last three months.

Institutional Investors Weigh In On Navios Maritime Partners

A number of institutional investors have recently added to or reduced their stakes in NMM. Susquehanna Fundamental Investments LLC increased its stake in Navios Maritime Partners by 2.1% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,381 shares of the shipping company’s stock valued at $1,288,000 after buying an additional 375 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Navios Maritime Partners by 74.1% in the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company’s stock worth $736,000 after buying an additional 4,644 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company’s stock valued at $13,438,000 after acquiring an additional 72,754 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Navios Maritime Partners during the first quarter valued at approximately $1,889,000. Finally, Walleye Capital LLC increased its position in shares of Navios Maritime Partners by 45,274.3% during the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock valued at $10,090,000 after acquiring an additional 149,858 shares during the last quarter. 62.74% of the stock is owned by institutional investors.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE: NMM) is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.