Navios Maritime Partners (NYSE:NMM) Share Price Passes Above Two Hundred Day Moving Average - What's Next?

Key Points

• Navios Maritime Partners' shares have surpassed their 200-day moving average, trading at $46.85 after reaching a high of $47.84, indicating potential upward momentum.
• The company reported earnings of $2.15 EPS for the last quarter, exceeding analysts' estimates, but experienced a 4.3% decline in quarterly revenue compared to the previous year.
• Navios Maritime Partners announced a quarterly dividend of $0.05 per share, resulting in a dividend yield of 0.4%, with a consistent dividend payout ratio of 1.99%.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $39.40 and traded as high as $47.84. Navios Maritime Partners shares last traded at $46.85, with a volume of 229,947 shares traded.

Navios Maritime Partners Price Performance

The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of 4.72 and a beta of 1.49. The company has a fifty day simple moving average of $41.63 and a 200 day simple moving average of $39.47. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.01.

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

Navios Maritime Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Monday, August 11th were issued a dividend of $0.05 per share. 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 payout ratio is presently 1.99%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NMM. Merrion Investment Management Co LLC lifted its stake in shares of Navios Maritime Partners by 497.6% in 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. Ieq Capital LLC lifted its stake in shares of Navios Maritime Partners by 41.4% in 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. Cubist Systematic Strategies LLC acquired a new position in shares of Navios Maritime Partners in the 4th quarter valued at about $769,000. Ion Asset Management Ltd. lifted its stake in shares of Navios Maritime Partners by 2.2% in the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company's stock valued at $30,821,000 after purchasing an additional 17,285 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Navios Maritime Partners by 14,685.5% in the 4th quarter. JPMorgan Chase & Co. now owns 16,264 shares of the shipping company's stock valued at $704,000 after purchasing an additional 16,154 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.