Navios Maritime Partners (NYSE:NMM) Stock Price Breaks Above 200 Day Moving Average - Should You Sell?

Key Points

• Navios Maritime Partners’ shares broke above their 200-day moving average, reaching $92.96 and last trading near $90.12, versus the average of $76.37.
• Analyst sentiment is positive: Navios was upgraded to “buy,” Jefferies raised its price target to $100, and the stock has an average “Buy” rating with a $100 target.
• The company reported stronger-than-expected quarterly results, with EPS of $4.65 and revenue of $410.17 million, while revenue rose 25.2% year over year.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $76.37 and traded as high as $92.96. Navios Maritime Partners shares last traded at $90.1150, with a volume of 178,483 shares changing hands.

Analyst Upgrades and Downgrades

NMM has been the topic of several analyst reports. Weiss Ratings raised Navios Maritime Partners from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, September 8th. Jefferies Financial Group boosted their price target on shares of Navios Maritime Partners from $85.00 to $100.00 and gave the company a "buy" rating in a report on Monday, August 24th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Navios Maritime Partners currently has an average rating of "Buy" and an average price target of $100.00.

Navios Maritime Partners Stock Down 1.0%

The firm's 50 day simple moving average is $86.09 and its 200 day simple moving average is $76.37. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 5.89 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 issued its quarterly earnings data on Thursday, August 27th. The shipping company reported $4.65 earnings per share (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 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 previous year, the firm posted $2.15 earnings per share. The business's revenue was up 25.2% on a year-over-year basis.

Navios Maritime Partners Announces Dividend

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

Insider Transactions at Navios Maritime Partners

In other Navios Maritime Partners news, insider Angeliki Frangou purchased 1,167 shares of the firm's stock in a transaction dated Monday, July 20th. The stock was bought at an average price of $72.95 per share, with a total value of $85,132.65. Following the completion of the purchase, the insider owned 4,773,298 shares in the company, valued at $348,212,089.10. This trade represents a 0.02% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders acquired 26,573 shares of company stock worth $2,043,800.

Institutional Investors Weigh In On Navios Maritime Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC raised its position in 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 worth $1,288,000 after acquiring an additional 375 shares in the last quarter. Empowered Funds LLC lifted its holdings in Navios Maritime Partners by 74.1% in the 1st quarter. Empowered Funds LLC now owns 10,911 shares of the shipping company's stock valued at $736,000 after acquiring an additional 4,644 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Navios Maritime Partners by 57.6% during the 1st quarter. Bank of America Corp DE now owns 199,141 shares of the shipping company's stock valued at $13,438,000 after purchasing an additional 72,754 shares in the last quarter. Sei Investments Co. bought a new position in shares of Navios Maritime Partners during the 1st quarter valued at about $1,889,000. Finally, Walleye Capital LLC grew its stake in shares of Navios Maritime Partners by 45,274.3% in the 1st quarter. Walleye Capital LLC now owns 149,527 shares of the shipping company's stock worth $10,090,000 after purchasing an additional 149,858 shares during the last quarter. 62.74% of the stock is currently owned by institutional investors.

Navios Maritime Partners Company Profile

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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