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

Key Points

• Navios Maritime Partners shares broke above their 200-day moving average, reaching $88.24 before closing at $86.89, although they were down 0.7% in the session.
• Analysts maintained a bullish outlook: Jefferies raised its price target to $100, while the consensus rating remained “Buy” with a $100 average target.
• The company exceeded quarterly expectations, reporting $4.65 in EPS and $410.17 million in revenue, with revenue up 25.2% year over year.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $78.94 and traded as high as $88.24. Navios Maritime Partners shares last traded at $86.89, with a volume of 137,375 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Navios Maritime Partners from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Jefferies Financial Group lifted their target price on shares of Navios Maritime Partners from $85.00 to $100.00 and gave the company a "buy" rating in a research note on Monday, August 24th. Two equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $100.00.

Navios Maritime Partners Trading Down 0.7%

The company has a fifty day moving average of $89.67 and a two-hundred day moving average of $78.94. The company has a current ratio of 1.53, a quick ratio of 1.53 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 5.68 and a beta of 1.05.

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

Navios Maritime Partners Dividend Announcement

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

Insider Transactions at Navios Maritime Partners

In related news, insider Angeliki Frangou acquired 1,062 shares of the company's stock in a transaction dated Wednesday, August 12th. The shares were bought at an average price of $79.16 per share, for a total transaction of $84,067.92. Following the acquisition, the insider owned 4,790,901 shares in the company, valued at $379,247,723.16. This trade represents a 0.02% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have acquired 15,333 shares of company stock valued at $1,204,437.

Institutional Trading of Navios Maritime Partners

A number of hedge funds have recently modified their holdings of NMM. Susquehanna Fundamental Investments LLC raised its stake in shares of Navios Maritime Partners by 2.1% in the second quarter. Susquehanna Fundamental Investments LLC now owns 18,381 shares of the shipping company's stock valued at $1,288,000 after purchasing an additional 375 shares in the last quarter. Valley Wealth Managers Inc. bought a new position in Navios Maritime Partners in the first quarter worth $63,000. State of Wyoming lifted its position in Navios Maritime Partners by 77.8% in the first quarter. State of Wyoming now owns 4,637 shares of the shipping company's stock worth $313,000 after purchasing an additional 2,029 shares during the period. Empowered Funds LLC lifted its position in Navios Maritime Partners by 74.1% in the first quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company's stock worth $736,000 after purchasing an additional 4,644 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Navios Maritime Partners during the first quarter worth $622,000. Institutional investors own 62.74% of the company's stock.

About Navios Maritime Partners

Navios Maritime Partners L.P. NYSE: NMM is a publicly traded maritime transportation company that owns and operates vessels serving international trade routes. Its fleet is focused primarily on dry bulk carriers and containerships, with additional exposure to tanker shipping through vessels that transport liquid cargoes.

The company's vessels transport commodities and manufactured goods for customers worldwide. Dry bulk ships carry cargoes such as iron ore, grain and coal, while containerships transport consumer products, industrial goods and other containerized freight.

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