Navios Maritime Partners (NYSE:NMM) Stock Price Up 5.5% - Here's What Happened

Navios Maritime Partners L.P. (NYSE:NMM - Get Free Report)'s share price traded up 5.5% during mid-day trading on Friday . The stock traded as high as $40.69 and last traded at $41.19. 192,578 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 160,821 shares. The stock had previously closed at $39.03.

Wall Street Analysts Forecast Growth

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

Navios Maritime Partners Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $36.71 and a two-hundred day simple moving average of $40.34. The stock has a market capitalization of $1.20 billion, a P/E ratio of 3.36 and a beta of 1.40.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The shipping company reported $1.58 earnings per share for the quarter, missing analysts' consensus estimates of $1.62 by ($0.04). The company had revenue of $274.10 million during the quarter, compared to the consensus estimate of $254.00 million. Navios Maritime Partners had a net margin of 27.53% and a return on equity of 11.64%. The firm's revenue for the quarter was down 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.32 earnings per share. On average, equities analysts forecast that Navios Maritime Partners L.P. will post 12.64 EPS for the current fiscal year.

Navios Maritime Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 14th. Stockholders of record on Friday, May 9th were given a $0.05 dividend. The ex-dividend date was Friday, May 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. Navios Maritime Partners's payout ratio is 1.82%.

Institutional Trading of Navios Maritime Partners

A number of hedge funds have recently made changes to their positions in the business. Natixis lifted its holdings in Navios Maritime Partners by 0.3% during the 4th quarter. Natixis now owns 124,727 shares of the shipping company's stock worth $5,399,000 after purchasing an additional 397 shares during the last quarter. Mraz Amerine & Associates Inc. lifted its holdings in Navios Maritime Partners by 1.4% during the 1st quarter. Mraz Amerine & Associates Inc. now owns 33,145 shares of the shipping company's stock worth $1,289,000 after purchasing an additional 451 shares during the last quarter. Live Oak Investment Partners increased its stake in Navios Maritime Partners by 2.0% during the 1st quarter. Live Oak Investment Partners now owns 28,162 shares of the shipping company's stock worth $1,105,000 after acquiring an additional 552 shares during the period. First Trust Advisors LP increased its stake in Navios Maritime Partners by 23.7% during the 4th quarter. First Trust Advisors LP now owns 5,325 shares of the shipping company's stock worth $231,000 after acquiring an additional 1,020 shares during the period. Finally, Moors & Cabot Inc. increased its stake in Navios Maritime Partners by 2.6% during the 4th quarter. Moors & Cabot Inc. now owns 76,031 shares of the shipping company's stock worth $3,291,000 after acquiring an additional 1,901 shares during the period. 62.74% of the stock is owned by institutional investors and hedge funds.

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.