Navios Maritime Partners (NYSE:NMM) Share Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Navios Maritime Partners' stock recently surpassed its 200-day moving average of $39.32, reaching a high of $43.33 before closing at $42.76, amidst a trading volume of 134,295 shares.
• The company reported a quarterly earnings per share (EPS) of $1.58, which was below the estimated $1.62, and showed a revenue of $274.10 million, exceeding forecasts but down 4.6% year-over-year.
• Navios Maritime Partners announced a quarterly dividend of $0.05 per share, translating to an annualized yield of 0.47%, with the dividend payout ratio at 1.82%.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $39.32 and traded as high as $43.33. Navios Maritime Partners shares last traded at $42.76, with a volume of 134,295 shares.

Navios Maritime Partners Price Performance

The company's 50-day moving average price is $39.49 and its two-hundred day moving average price is $39.23. The company has a market cap of $1.27 billion, a P/E ratio of 3.89 and a beta of 1.34. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.60.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly 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). Navios Maritime Partners had a net margin of 25.44% and a return on equity of 10.41%. The business had revenue of $274.10 million during the quarter, compared to analyst estimates of $254.00 million. During the same period last year, the firm posted $2.32 earnings per share. The company's quarterly revenue was down 4.6% on a year-over-year basis. As a group, sell-side analysts expect that Navios Maritime Partners LP will post 12.64 earnings per share for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Monday, August 11th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, August 11th. Navios Maritime Partners's dividend payout ratio (DPR) is presently 1.82%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Ion Asset Management Ltd. boosted its stake in Navios Maritime Partners by 81.9% during the 4th quarter. Ion Asset Management Ltd. now owns 805,678 shares of the shipping company's stock valued at $34,878,000 after purchasing an additional 362,678 shares during the period. Natixis boosted its stake in Navios Maritime Partners by 0.3% during the 4th quarter. Natixis now owns 124,727 shares of the shipping company's stock valued at $5,399,000 after purchasing an additional 397 shares during the period. Moors & Cabot Inc. boosted its stake in Navios Maritime Partners by 9.5% during the 1st quarter. Moors & Cabot Inc. now owns 83,281 shares of the shipping company's stock valued at $3,266,000 after purchasing an additional 7,250 shares during the period. Ieq Capital LLC boosted its stake in Navios Maritime Partners by 41.4% during the 1st quarter. Ieq Capital LLC now owns 78,684 shares of the shipping company's stock valued at $3,086,000 after purchasing an additional 23,054 shares during the period. Finally, Merrion Investment Management Co LLC boosted its stake in Navios Maritime Partners by 497.6% during the 1st quarter. Merrion Investment Management Co LLC now owns 60,000 shares of the shipping company's stock valued at $2,353,000 after purchasing an additional 49,960 shares during the period. 62.74% of the stock is owned by institutional investors and hedge funds.

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.