Navios Maritime Partners (NYSE:NMM) Sets New 1-Year High - Should You Buy?

Key Points

• Navios Maritime Partners reached a new 52-week high of $92.54, with the stock recently trading near $91.88 and up 0.6%.
• The company exceeded quarterly expectations, reporting EPS of $4.65 versus the $4.35 consensus and revenue of $410.17 million, up 25.2% year over year.
• Analysts have a “Moderate Buy” consensus and a $100 price target, although ratings are split between Buy and Hold; the company also pays a modest $0.06 quarterly dividend yielding about 0.3%.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $92.54 and last traded at $91.8750, with a volume of 12474 shares trading hands. The stock had previously closed at $91.39.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NMM shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Navios Maritime Partners in a research note on Tuesday, August 25th. Jefferies Financial Group upped their price target on Navios Maritime Partners from $85.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, August 24th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, Navios Maritime Partners currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.

Navios Maritime Partners Stock Up 0.6%

The company has a market cap of $2.64 billion, a P/E ratio of 6.02 and a beta of 0.99. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.57. The firm has a fifty day moving average price of $78.82 and a 200 day moving average price of $72.94.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The shipping company reported $4.65 EPS for the quarter, topping analysts' consensus estimates of $4.35 by $0.30. The firm had revenue of $410.17 million for the quarter, compared to analyst estimates of $360.83 million. Navios Maritime Partners had a net margin of 30.27% and a return on equity of 12.24%. The company's revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.15 EPS.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, August 10th. Navios Maritime Partners's payout ratio is 1.57%.

Insider Buying and Selling

In other news, insider Angeliki Frangou bought 1,208 shares of the stock in a transaction dated Monday, June 29th. The stock was bought at an average cost of $68.88 per share, with a total value of $83,207.04. Following the purchase, the insider owned 4,757,419 shares of the company's stock, valued at approximately $327,691,020.72. This represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. In the last 90 days, insiders acquired 48,651 shares of company stock valued at $3,630,100.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada raised its stake in shares of Navios Maritime Partners by 50.9% during the fourth quarter. Royal Bank of Canada now owns 599 shares of the shipping company's stock worth $32,000 after buying an additional 202 shares during the last quarter. Valley Wealth Managers Inc. bought a new stake in shares of Navios Maritime Partners during the 1st quarter valued at $63,000. State of Wyoming acquired a new position in shares of Navios Maritime Partners in the 4th quarter valued at $137,000. Corient Private Wealth LLC bought a new position in shares of Navios Maritime Partners in the 4th quarter worth $207,000. Finally, Mariner LLC acquired a new stake in shares of Navios Maritime Partners during the fourth quarter worth $208,000. 62.74% of the stock is currently owned by institutional investors and hedge funds.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. NYSE: NMM is a dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.

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