Navios Maritime Partners (NYSE:NMM) Hits New 1-Year High – Still a Buy?

Navios Maritime Partners LP (NYSE:NMM)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $92.89 and last traded at $92.1890, with a volume of 23870 shares. The stock had previously closed at $92.19.

Analysts Set New Price Targets

NMM has been the subject of several analyst reports. Weiss Ratings raised Navios Maritime Partners from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 8th. Jefferies Financial Group raised their target price on shares of Navios Maritime Partners from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $100.00.

Navios Maritime Partners Price Performance

The company has a market capitalization of $2.66 billion, a PE ratio of 6.07 and a beta of 0.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.53 and a current ratio of 1.53. The stock has a 50 day moving average price of $82.08 and a two-hundred day moving average price of $74.42.

Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, August 27th. The shipping company reported $4.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.35 by $0.30. Navios Maritime Partners had a net margin of 30.27% and a return on equity of 12.24%. The firm had revenue of $410.17 million during the quarter, compared to analysts’ expectations of $360.83 million. During the same period in the previous year, the company earned $2.15 earnings per share. The company’s revenue was up 25.2% compared to the same quarter last year.

Navios Maritime Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Monday, August 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.3%. Navios Maritime Partners’s payout ratio is currently 1.57%.

Insider Activity

In related news, insider Angeliki Frangou acquired 1,062 shares of the stock in a transaction dated Wednesday, August 12th. The shares were acquired at an average price of $79.16 per share, with a total value of $84,067.92. Following the acquisition, the insider owned 4,790,901 shares in the company, valued at approximately $379,247,723.16. The trade was a 0.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders bought 39,478 shares of company stock worth $2,961,989.

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its holdings in Navios Maritime Partners by 57.6% during 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 purchasing an additional 72,754 shares during the last quarter. Walleye Capital LLC lifted its stake in shares of Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company’s stock worth $10,090,000 after buying an additional 149,858 shares during the last quarter. ING Groep NV boosted its holdings in shares of Navios Maritime Partners by 51.7% during the 4th quarter. ING Groep NV now owns 146,500 shares of the shipping company’s stock worth $7,681,000 after buying an additional 49,900 shares during the period. Marnell Management LLC acquired a new position in Navios Maritime Partners in the 4th quarter valued at $5,027,000. Finally, Sei Investments Co. acquired a new position in Navios Maritime Partners in the 1st quarter valued at $1,889,000. Institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. (NYSE: NMM) is an international owner and operator of commercial vessels. The company provides maritime transportation services through a diversified fleet that includes dry bulk carriers, containerships and tanker vessels.

Its dry bulk ships transport commodities such as iron ore, coal, grain and other bulk cargoes, while its containerships carry manufactured goods and other containerized freight. The tanker fleet transports crude oil, refined petroleum products and other liquid cargoes.