Navios Maritime Partners (NYSE:NMM) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• Navios Maritime Partners stock crossed above its 200-day moving average, currently trading at $41.73, which suggests bullish momentum for investors.
• The company reported a quarterly earnings per share of $1.58, missing estimates by $0.04, while its revenue of $274.10 million surpassed expectations of $254 million.
• Navios Maritime Partners declared a quarterly dividend of $0.05, leading to an annualized dividend yield of 0.5% for investors.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.19 and traded as high as $41.90. Navios Maritime Partners shares last traded at $41.73, with a volume of 93,803 shares changing hands.

Navios Maritime Partners Trading Up 2.2%

The stock has a market capitalization of $1.34 billion, a P/E ratio of 4.11 and a beta of 1.49. The stock's 50 day moving average price is $39.94 and its 200-day moving average price is $39.16. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.60.

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

Navios Maritime Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Monday, August 11th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, August 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.4%. Navios Maritime Partners's dividend payout ratio is presently 1.82%.

Institutional Trading of Navios Maritime Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Moors & Cabot Inc. raised its position in shares of Navios Maritime Partners by 10.4% in the second quarter. Moors & Cabot Inc. now owns 91,932 shares of the shipping company's stock valued at $3,464,000 after buying an additional 8,651 shares during the last quarter. Live Oak Investment Partners increased its position in shares of Navios Maritime Partners by 1.3% during the second quarter. Live Oak Investment Partners now owns 28,537 shares of the shipping company's stock valued at $1,075,000 after acquiring an additional 375 shares during the last quarter. Mraz Amerine & Associates Inc. increased its holdings in Navios Maritime Partners by 22.7% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 40,670 shares of the shipping company's stock valued at $1,532,000 after purchasing an additional 7,525 shares during the last quarter. Westhampton Capital LLC lifted its stake in Navios Maritime Partners by 35.4% during the 2nd quarter. Westhampton Capital LLC now owns 7,656 shares of the shipping company's stock worth $288,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new position in shares of Navios Maritime Partners in the second quarter valued at approximately $394,000. 62.74% of the stock is currently owned by hedge funds and other institutional investors.

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.