Navios Maritime Partners (NYSE:NMM) Sets New 12-Month High - Time to Buy?

Key Points

• Navios Maritime Partners reached a new 52-week high, trading as high as $96.22, supported by a “Buy” consensus rating and a $100 average analyst price target.
• The company reported stronger-than-expected quarterly results, with $4.65 in EPS versus estimates of $4.35 and revenue of $410.17 million, up 25.2% year over year.
• Navios Maritime Partners pays a $0.06 quarterly dividend, while insiders and institutional investors have recently increased their holdings; institutions own 62.74% of the company.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report)'s stock price reached a new 52-week high on Monday. The company traded as high as $96.22 and last traded at $95.9160, with a volume of 18,707 shares trading hands. The stock had previously closed at $93.06.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Navios Maritime Partners from $85.00 to $100.00 and gave the stock a "buy" rating in a report on Monday, August 24th. Weiss Ratings upgraded shares of Navios Maritime Partners from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday. Two research analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, Navios Maritime Partners presently has an average rating of "Buy" and a consensus price target of $100.00.

Navios Maritime Partners Stock Performance

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 company has a market cap of $2.74 billion, a P/E ratio of 6.24 and a beta of 1.05. The business has a fifty day moving average of $87.95 and a 200 day moving average of $77.72.

Navios Maritime Partners (NYSE:NMM - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $410.17 million during the quarter, compared to analyst estimates of $360.83 million. Navios Maritime Partners had a return on equity of 12.24% and a net margin of 30.27%. The firm's revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.15 earnings per share.

Navios Maritime Partners Announces Dividend

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

Insider Buying and Selling

In related news, insider Angeliki Frangou bought 1,167 shares of the company's stock in a transaction dated Monday, July 20th. The stock was purchased at an average cost of $72.95 per share, with a total value of $85,132.65. Following the transaction, the insider owned 4,773,298 shares in the company, valued at approximately $348,212,089.10. This trade represents a 0.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have acquired 19,875 shares of company stock valued at $1,541,178.

Institutional Investors Weigh In On Navios Maritime Partners

A number of large investors have recently modified their holdings of NMM. Bank of America Corp DE raised its stake in Navios Maritime Partners by 57.6% in the first quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock worth $13,438,000 after buying an additional 72,754 shares in the last quarter. Walleye Capital LLC boosted its position in Navios Maritime Partners by 45,274.3% during the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock valued at $10,090,000 after acquiring an additional 149,858 shares in the last quarter. Marnell Management LLC bought a new stake in Navios Maritime Partners during the 4th quarter valued at approximately $5,027,000. Sei Investments Co. bought a new stake in Navios Maritime Partners during the 1st quarter valued at approximately $1,889,000. Finally, Susquehanna Fundamental Investments LLC boosted its position in Navios Maritime Partners by 2.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 18,381 shares of the shipping company's stock valued at $1,288,000 after acquiring an additional 375 shares in the last quarter. Institutional investors own 62.74% of the company's stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. NYSE: NMM is a global owner and operator of commercial vessels. The company provides seaborne transportation services for dry bulk commodities, containerized goods and liquid cargoes through a diversified fleet that includes dry bulk carriers, containerships and tanker vessels.

Its vessels transport commodities such as iron ore, grain, coal and other dry bulk materials, as well as petroleum products, chemicals and other liquid cargoes. Navios Maritime Partners serves international trade routes and works with charterers and customers across major shipping markets worldwide.

Navios Maritime Partners was established in 2007 and is part of the broader Navios group of maritime companies.

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