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

Key Points

• Navios Maritime Partners shares crossed above their 200-day moving average, reaching $92.64 versus the $77.53 average, and last traded near $91.77.
• Analysts remain positive: Jefferies raised its price target to $100 and maintained a “Buy” rating, while the consensus rating is also “Buy” with a $100 average target.
• The company reported strong quarterly results, with EPS of $4.65 and revenue of $410.17 million, exceeding estimates and representing 25.2% year-over-year revenue growth.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $77.53 and traded as high as $92.64. Navios Maritime Partners shares last traded at $91.7670, with a volume of 114,860 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently commented on NMM shares. Jefferies Financial Group raised their price objective 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. Weiss Ratings raised shares of Navios Maritime Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, September 8th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Navios Maritime Partners presently has an average rating of "Buy" and an average price target of $100.00.

Navios Maritime Partners Stock Performance

The stock has a market capitalization of $2.63 billion, a PE ratio of 5.99 and a beta of 1.05. The stock has a fifty day moving average of $87.71 and a 200-day moving average of $77.53. 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 released its earnings results on Thursday, August 27th. The shipping company reported $4.65 EPS 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 firm had revenue of $410.17 million during the quarter, compared to analysts' expectations of $360.83 million. During the same period in the previous year, the firm posted $2.15 EPS. Navios Maritime Partners's revenue for the quarter was up 25.2% on a year-over-year basis.

Navios Maritime Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Monday, August 10th were given a dividend of $0.06 per share. The ex-dividend date of this dividend 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 payout ratio is currently 1.57%.

Insider Buying and Selling at Navios Maritime Partners

In other news, insider Angeliki Frangou bought 1,062 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $79.16 per share, for a total transaction of $84,067.92. Following the completion of the purchase, the insider owned 4,790,901 shares of the company's stock, valued at approximately $379,247,723.16. This represents a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 20,975 shares of company stock worth $1,624,129 in the last 90 days.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC lifted its position in shares of 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 worth $1,288,000 after purchasing an additional 375 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in Navios Maritime Partners in the first quarter valued at $63,000. State of Wyoming increased its holdings 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 valued at $313,000 after buying an additional 2,029 shares during the last quarter. Empowered Funds LLC raised its stake 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 valued at $736,000 after buying an additional 4,644 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Navios Maritime Partners in the first quarter valued at $622,000. Hedge funds and other institutional investors own 62.74% of the company's stock.

Navios Maritime Partners Company Profile

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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