Navios Maritime Partners (NYSE:NMM) Stock Passes Above Two Hundred Day Moving Average - Here's Why

Navios Maritime Partners LP (NYSE:NMM - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.34 and traded as high as $42.49. Navios Maritime Partners shares last traded at $40.32, with a volume of 117,642 shares.

Analyst Ratings Changes

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

Navios Maritime Partners Price Performance

The company has a fifty day simple moving average of $37.28 and a 200-day simple moving average of $40.30. The company has a market cap of $1.19 billion, a P/E ratio of 3.65 and a beta of 1.40. 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 announced its earnings results on Wednesday, May 7th. The shipping company reported $1.58 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.04). The company had revenue of $274.10 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $2.32 earnings per share. On average, sell-side analysts predict that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 14th. Investors of record on Friday, May 9th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Friday, May 9th. Navios Maritime Partners's dividend payout ratio is currently 1.82%.

Hedge Funds Weigh In On Navios Maritime Partners

A number of hedge funds have recently added to or reduced their stakes in NMM. State of Wyoming acquired a new position in Navios Maritime Partners in the 1st quarter valued at $157,000. BNP Paribas Financial Markets boosted its holdings in 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 valued at $194,000 after acquiring an additional 2,324 shares during the period. LPL Financial LLC acquired a new stake in shares of Navios Maritime Partners in the fourth quarter valued at about $204,000. Raymond James Financial Inc. bought a new position in shares of Navios Maritime Partners in the fourth quarter worth about $219,000. Finally, First Trust Advisors LP increased its stake in shares of Navios Maritime Partners by 23.7% in the fourth quarter. First Trust Advisors LP now owns 5,325 shares of the shipping company's stock worth $231,000 after purchasing an additional 1,020 shares during the period. Institutional investors and hedge funds own 62.74% of the company's stock.

About Navios Maritime Partners

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.