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

Shares of Navios Maritime Partners LP (NYSE:NMM - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $39.45 and traded as high as $39.84. Navios Maritime Partners shares last traded at $39.45, with a volume of 57,711 shares trading hands.

Navios Maritime Partners Stock Performance

The business's 50-day moving average price is $39.23 and its 200-day moving average price is $39.43. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $1.22 billion, a P/E ratio of 3.73 and a beta of 1.34.

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

Navios Maritime Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 14th. Shareholders of record on Friday, May 9th were given a dividend of $0.05 per share. The ex-dividend date was Friday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.49%. Navios Maritime Partners's dividend payout ratio (DPR) is presently 1.82%.

Hedge Funds Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently modified their holdings of the business. State of Wyoming purchased a new stake in Navios Maritime Partners during the first quarter valued at approximately $157,000. BNP Paribas Financial Markets raised its holdings in shares of Navios Maritime Partners by 108.1% in the fourth quarter. BNP Paribas Financial Markets now owns 4,473 shares of the shipping company's stock worth $194,000 after buying an additional 2,324 shares during the last quarter. LPL Financial LLC purchased a new position in shares of Navios Maritime Partners in the fourth quarter worth $204,000. Raymond James Financial Inc. purchased a new position in shares of Navios Maritime Partners in the fourth quarter worth $219,000. Finally, First Trust Advisors LP raised its holdings 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 buying an additional 1,020 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors.

Navios Maritime Partners Company Profile

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.