Navios Maritime Partners LP $NMM Stock Position Lessened by Pilgrim Global Advisors LLC

Key Points

• Pilgrim Global Advisors LLC has reduced its stake in Navios Maritime Partners LP by 1.8%, now owning approximately 4.76 million shares, which represents 35.3% of its investment portfolio.
• Navios Maritime Partners recently reported $2.15 EPS for the quarter, surpassing the expected $1.74 EPS, with a revenue of $327.56 million.
• The company declared a quarterly dividend of $0.05 per share, yielding 0.4%, with a low and high stock price of $28.37 and $65.89 respectively over the past year.

Pilgrim Global Advisors LLC cut its position in Navios Maritime Partners LP (NYSE:NMM - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,761,761 shares of the shipping company's stock after selling 87,594 shares during the quarter. Navios Maritime Partners accounts for 35.3% of Pilgrim Global Advisors LLC's holdings, making the stock its 2nd largest holding. Pilgrim Global Advisors LLC owned approximately 16.04% of Navios Maritime Partners worth $186,756,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of Navios Maritime Partners during the first quarter worth about $345,000. Merrion Investment Management Co LLC lifted its position in shares of Navios Maritime Partners by 497.6% during the first quarter. Merrion Investment Management Co LLC now owns 60,000 shares of the shipping company's stock worth $2,353,000 after purchasing an additional 49,960 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of Navios Maritime Partners by 9.5% during the first quarter. Moors & Cabot Inc. now owns 83,281 shares of the shipping company's stock worth $3,266,000 after purchasing an additional 7,250 shares in the last quarter. Lighthouse Investment Partners LLC lifted its position in shares of Navios Maritime Partners by 41.0% during the fourth quarter. Lighthouse Investment Partners LLC now owns 50,403 shares of the shipping company's stock worth $2,182,000 after purchasing an additional 14,667 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of Navios Maritime Partners by 108.1% during the fourth quarter. BNP Paribas Financial Markets now owns 4,473 shares of the shipping company's stock worth $194,000 after purchasing an additional 2,324 shares in the last quarter. 62.74% of the stock is owned by institutional investors and hedge funds.

Navios Maritime Partners Stock Up 2.1%

Shares of NMM traded up $0.96 during mid-day trading on Wednesday, hitting $47.83. 166,586 shares of the company's stock were exchanged, compared to its average volume of 114,912. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 4.93 and a beta of 1.56. Navios Maritime Partners LP has a fifty-two week low of $28.37 and a fifty-two week high of $65.89. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.01. The stock's 50-day moving average is $42.39 and its 200-day moving average is $39.58.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last issued its quarterly earnings results on Thursday, August 21st. The shipping company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.41. The business had revenue of $327.56 million for the quarter, compared to analysts' expectations of $309.58 million. Navios Maritime Partners had a net margin of 23.31% and a return on equity of 9.32%. The business's quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.06 earnings per share. On average, sell-side analysts anticipate that Navios Maritime Partners LP will post 12.64 earnings per share for the current fiscal year.

Navios Maritime Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Monday, August 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.20 annualized dividend and a yield of 0.4%. Navios Maritime Partners's dividend payout ratio (DPR) is 1.99%.

Navios Maritime Partners Company 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.