Sei Investments Co. Takes Position in Navios Maritime Partners LP $NMM

Key Points

• Sei Investments Co. acquired 27,997 shares of Navios Maritime Partners in the first quarter, worth approximately $1.89 million. Institutional investors collectively own 62.74% of the company.
• Navios Maritime Partners reported quarterly earnings of $3.35 per share, beating estimates of $2.77, while revenue rose 17.4% year over year to $357.01 million.
• Analyst sentiment is moderately positive, with an average $85 price target, compared with the stock’s $79.09 opening price. The company also declared a quarterly dividend of $0.06 per share.

Sei Investments Co. acquired a new position in Navios Maritime Partners LP (NYSE:NMM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,997 shares of the shipping company's stock, valued at approximately $1,889,000. Sei Investments Co. owned about 0.10% of Navios Maritime Partners at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. ION Fund Management Ltd bought a new position in Navios Maritime Partners in the 4th quarter worth $24,432,000. Walleye Capital LLC boosted its holdings in Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock valued at $10,090,000 after purchasing an additional 149,858 shares during the period. Marnell Management LLC acquired a new stake in Navios Maritime Partners in the 4th quarter worth $5,027,000. JPMorgan Chase & Co. raised its position in shares of Navios Maritime Partners by 150.9% during the fourth quarter. JPMorgan Chase & Co. now owns 87,535 shares of the shipping company's stock valued at $4,589,000 after buying an additional 52,651 shares during the last quarter. Finally, ING Groep NV lifted its stake in shares of Navios Maritime Partners by 51.7% in the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock valued at $7,681,000 after buying an additional 49,900 shares during the period. 62.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on NMM. Jefferies Financial Group began coverage on Navios Maritime Partners in a research note on Friday, April 24th. They set a "buy" rating and a $85.00 price target on the stock. Weiss Ratings cut shares of Navios Maritime Partners from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Navios Maritime Partners currently has an average rating of "Moderate Buy" and an average target price of $85.00.

Navios Maritime Partners Stock Down 0.3%

Shares of NYSE NMM opened at $79.09 on Monday. Navios Maritime Partners LP has a 52-week low of $42.77 and a 52-week high of $82.84. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.45 and a current ratio of 1.45. The business has a fifty day moving average of $74.14 and a two-hundred day moving average of $69.68. The stock has a market cap of $2.27 billion, a PE ratio of 6.66 and a beta of 1.02.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its earnings results on Thursday, May 21st. The shipping company reported $3.35 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.58. The business had revenue of $357.01 million for the quarter, compared to analyst estimates of $317.80 million. Navios Maritime Partners had a net margin of 25.05% and a return on equity of 10.48%. The firm's quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.58 EPS.

Navios Maritime Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, August 10th. Navios Maritime Partners's dividend payout ratio is currently 2.02%.

Insiders Place Their Bets

In other news, insider Angeliki Frangou acquired 1,054 shares of the company's stock in a transaction dated Friday, August 7th. The stock was bought at an average price of $78.94 per share, with a total value of $83,202.76. Following the completion of the acquisition, the insider owned 4,787,732 shares in the company, valued at approximately $377,943,564.08. This represents a 0.02% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have bought 65,053 shares of company stock worth $4,801,006 over the last quarter.

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.

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