Navios Maritime Partners (NYSE:NMM) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Navios Maritime Partners shares rose above their 200-day moving average, reaching $89.19 and last trading at $88.73 versus the $72.54 long-term average.
• Analyst sentiment is favorable, with a consensus “Moderate Buy” rating and a $100 average price target after Jefferies raised its target from $85 to $100.
• The company reported strong quarterly results, posting $4.65 EPS versus the $4.35 estimate and $410.17 million in revenue, up 25.2% year over year; insiders and institutional investors have also increased their holdings.

Navios Maritime Partners LP (NYSE:NMM - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $72.54 and traded as high as $89.19. Navios Maritime Partners shares last traded at $88.73, with a volume of 236,810 shares.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NMM shares. Weiss Ratings restated a "hold (c+)" rating on shares of Navios Maritime Partners in a research report on Tuesday, August 25th. Jefferies Financial Group increased 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 report on Monday, August 24th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Navios Maritime Partners presently has a consensus rating of "Moderate Buy" and an average target price of $100.00.

Navios Maritime Partners Price 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 stock has a market cap of $2.54 billion, a P/E ratio of 5.80 and a beta of 1.02. The firm has a 50 day moving average price of $78.09 and a 200 day moving average price of $72.54.

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

Navios Maritime Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Monday, August 10th were issued a $0.06 dividend. 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 dividend payout ratio is currently 1.57%.

Insider Transactions at Navios Maritime Partners

In other Navios Maritime Partners news, insider Angeliki Frangou purchased 1,062 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were acquired at an average cost of $79.16 per share, with a total value of $84,067.92. Following the completion of the acquisition, the insider directly owned 4,790,901 shares in the company, valued at $379,247,723.16. The trade was a 0.02% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last ninety days, insiders acquired 50,973 shares of company stock valued at $3,797,177.

Institutional Trading of Navios Maritime Partners

Institutional investors have recently made changes to their positions in the business. Ion Asset Management Ltd. raised its stake in Navios Maritime Partners by 2.2% during the 2nd quarter. Ion Asset Management Ltd. now owns 817,963 shares of the shipping company's stock valued at $30,821,000 after purchasing an additional 17,285 shares during the period. ION Fund Management Ltd bought a new position in Navios Maritime Partners in the 4th quarter worth approximately $24,432,000. Bank of America Corp DE boosted its stake in Navios Maritime Partners by 57.6% in the 1st 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 period. Walleye Capital LLC grew its holdings 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 buying an additional 149,858 shares in the last quarter. Finally, ING Groep NV grew its holdings in Navios Maritime Partners by 51.7% during the 4th 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 in the last quarter. 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 dry bulk shipping company that owns and operates a fleet of Capesize, Panamax and Supramax vessels. The partnership charters its vessels under medium- and long-term contracts to a diverse group of charterers, providing seaborne transportation for major bulk cargoes such as iron ore, coal, grain and fertilizers. Through this asset-light model, Navios Maritime Partners seeks to generate stable cash flows while retaining flexibility to capitalize on market opportunities.

Formed in November 2007 and sponsored by Navios Maritime Holdings Inc, the partnership leverages the operating platform and commercial management capabilities of the Navios group.

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