Navios Maritime Partners LP (NYSE:NMM) Shares Acquired by Merrion Investment Management Co LLC

Merrion Investment Management Co LLC grew its position in Navios Maritime Partners LP (NYSE:NMM - Free Report) by 497.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the shipping company's stock after purchasing an additional 49,960 shares during the quarter. Navios Maritime Partners makes up 1.7% of Merrion Investment Management Co LLC's investment portfolio, making the stock its 17th largest position. Merrion Investment Management Co LLC owned approximately 0.20% of Navios Maritime Partners worth $2,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Ion Asset Management Ltd. raised its holdings in Navios Maritime Partners by 81.9% during the fourth quarter. Ion Asset Management Ltd. now owns 805,678 shares of the shipping company's stock worth $34,878,000 after purchasing an additional 362,678 shares in the last quarter. ING Groep NV raised its stake in Navios Maritime Partners by 446.2% during the 4th quarter. ING Groep NV now owns 71,000 shares of the shipping company's stock worth $3,074,000 after acquiring an additional 58,000 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in Navios Maritime Partners by 38.3% during the 4th quarter. Commonwealth Equity Services LLC now owns 160,834 shares of the shipping company's stock worth $6,963,000 after acquiring an additional 44,576 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in Navios Maritime Partners during the 4th quarter worth $769,000. Finally, JPMorgan Chase & Co. increased its position in shares of Navios Maritime Partners by 14,685.5% during the fourth quarter. JPMorgan Chase & Co. now owns 16,264 shares of the shipping company's stock worth $704,000 after purchasing an additional 16,154 shares in the last quarter. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Navios Maritime Partners from a "hold" rating to a "buy" rating in a research report on Thursday, March 13th.

Navios Maritime Partners Stock Performance

Shares of Navios Maritime Partners stock opened at $40.87 on Thursday. The firm's fifty day simple moving average is $37.09 and its 200-day simple moving average is $40.35. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 3.72 and a beta of 1.40. Navios Maritime Partners LP has a 12 month low of $28.37 and a 12 month high of $65.89. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.01 and a quick ratio of 1.01.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The shipping company reported $1.58 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.04). The business had revenue of $274.10 million during the quarter, compared to analyst estimates of $254.00 million. Navios Maritime Partners had a net margin of 25.44% and a return on equity of 10.41%. The company's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.32 earnings per share. As a group, equities analysts forecast that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Friday, May 9th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Friday, May 9th. Navios Maritime Partners's dividend payout ratio (DPR) is presently 1.82%.

Navios Maritime Partners Profile

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.

Want to see what other hedge funds are holding NMM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Navios Maritime Partners LP (NYSE:NMM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.