Navios Maritime Partners (NYSE:NMM) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• Navios Maritime Partners shares broke above their 200-day moving average, reaching $89.73 and last trading at $88.13 versus the $75.31 average.
• Analyst sentiment is positive: the stock has an average “Buy” rating and a consensus price target of $100, including Jefferies’ target increase from $85 to $100.
• The company reported strong quarterly results, with EPS of $4.65 beating estimates and revenue rising 25.2% year over year to $410.17 million.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $75.31 and traded as high as $89.73. Navios Maritime Partners shares last traded at $88.1280, with a volume of 218,563 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have commented on NMM shares. Weiss Ratings raised shares of Navios Maritime Partners from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, September 8th. Jefferies Financial Group lifted their price target on shares of Navios Maritime Partners from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Monday, August 24th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $100.00.

Navios Maritime Partners Stock Performance

The business has a 50 day moving average price of $84.10 and a two-hundred day moving average price of $75.31. The stock has a market cap of $2.53 billion, a P/E ratio of 5.76 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.

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

Navios Maritime Partners Announces Dividend

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

Insiders Place Their Bets

In related news, insider Angeliki Frangou purchased 1,208 shares of Navios Maritime Partners stock in a transaction on Monday, June 29th. The shares were bought at an average cost of $68.88 per share, for a total transaction of $83,207.04. Following the acquisition, the insider owned 4,757,419 shares in the company, valued at approximately $327,691,020.72. The trade was a 0.03% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 33,707 shares of company stock worth $2,545,998 over the last three months.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in shares of 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 purchasing an additional 72,754 shares during the last quarter. Walleye Capital LLC lifted its position in shares of Navios Maritime Partners by 45,274.3% in the first quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock worth $10,090,000 after buying an additional 149,858 shares in the last quarter. ING Groep NV boosted its stake in Navios Maritime Partners by 51.7% during the fourth quarter. ING Groep NV now owns 146,500 shares of the shipping company's stock valued at $7,681,000 after buying an additional 49,900 shares during the last quarter. Marnell Management LLC bought a new position in Navios Maritime Partners during the fourth quarter valued at approximately $5,027,000. Finally, Sei Investments Co. bought a new position in Navios Maritime Partners during the first quarter valued at approximately $1,889,000. Institutional investors own 62.74% of the company's stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. NYSE: NMM is an international owner and operator of commercial vessels. The company provides maritime transportation services through a diversified fleet that includes dry bulk carriers, containerships and tanker vessels.

Its dry bulk ships transport commodities such as iron ore, coal, grain and other bulk cargoes, while its containerships carry manufactured goods and other containerized freight. The tanker fleet transports crude oil, refined petroleum products and other liquid cargoes.

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