Navios Maritime Partners (NYSE:NMM) Sets New 52-Week Low – Here’s What Happened

Navios Maritime Partners L.P. (NYSE:NMM)’s share price reached a new 52-week low on Wednesday . The stock traded as low as $29.02 and last traded at $29.56, with a volume of 275746 shares traded. The stock had previously closed at $31.35.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Navios Maritime Partners from a “hold” rating to a “buy” rating in a research note on Thursday, March 13th.

Navios Maritime Partners Stock Down 5.7 %

The stock has a market cap of $877.61 million, a P/E ratio of 2.46 and a beta of 1.65. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $40.50 and a two-hundred day simple moving average of $47.22.

Navios Maritime Partners (NYSE:NMM) last announced its quarterly earnings results on Thursday, February 13th. The shipping company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $4.54 by ($1.93). Navios Maritime Partners had a net margin of 27.53% and a return on equity of 11.64%. The firm had revenue of $302.99 million for the quarter, compared to analysts’ expectations of $340.83 million. On average, equities analysts forecast that Navios Maritime Partners L.P. will post 12.64 EPS for the current year.

Navios Maritime Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.20 dividend on an annualized basis and a yield of 0.68%. Navios Maritime Partners’s dividend payout ratio is presently 1.67%.

Institutional Investors Weigh In On Navios Maritime Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets boosted its holdings in Navios Maritime Partners by 21.8% in the third quarter. BNP Paribas Financial Markets now owns 2,149 shares of the shipping company’s stock valued at $135,000 after acquiring an additional 384 shares in the last quarter. LPL Financial LLC bought a new stake in shares of Navios Maritime Partners during the 4th quarter valued at about $204,000. Raymond James Financial Inc. purchased a new position in shares of Navios Maritime Partners during the fourth quarter valued at about $219,000. First Trust Advisors LP raised its stake in Navios Maritime Partners by 23.7% in the fourth quarter. First Trust Advisors LP now owns 5,325 shares of the shipping company’s stock worth $231,000 after buying an additional 1,020 shares in the last quarter. Finally, Merrion Investment Management Co LLC lifted its holdings in Navios Maritime Partners by 56.9% in the fourth quarter. Merrion Investment Management Co LLC now owns 10,040 shares of the shipping company’s stock worth $435,000 after buying an additional 3,640 shares during the period. Hedge funds and other institutional investors own 62.74% of the company’s stock.

Navios Maritime Partners Company Profile

Navios Maritime Partners L.P. owns and operates dry cargo vessels in Asia, Europe, North America, and Australia. The company offers seaborne transportation services for a range of liquid and dry cargo commodities, including crude oil, refined petroleum, chemicals, iron ore, coal, grain, fertilizer, and containers, as well as charters its vessels under short, medium, and longer-term charters.