Separately, Zacks Investment Research upgraded Navios Maritime Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, May 7th.
Shares of NMM traded down $0.09 during trading hours on Wednesday, reaching $12.01. 25,544 shares of the company’s stock traded hands, compared to its average volume of 45,995. The firm has a market capitalization of $131.95 million, a price-to-earnings ratio of 3.64 and a beta of 1.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.08 and a current ratio of 2.08. Navios Maritime Partners has a twelve month low of $11.43 and a twelve month high of $31.65.
Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings results on Friday, May 3rd. The shipping company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.45. The company had revenue of $46.82 million for the quarter, compared to analyst estimates of $50.41 million. Navios Maritime Partners had a positive return on equity of 3.67% and a negative net margin of 12.47%. Analysts forecast that Navios Maritime Partners will post 0.47 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in shares of Navios Maritime Partners by 24.3% during the first quarter. Wells Fargo & Company MN now owns 55,977 shares of the shipping company’s stock worth $51,000 after purchasing an additional 10,951 shares during the period. Deutsche Bank AG increased its stake in Navios Maritime Partners by 983.2% during the 4th quarter. Deutsche Bank AG now owns 1,224,668 shares of the shipping company’s stock worth $1,039,000 after acquiring an additional 1,111,609 shares during the period. Macquarie Group Ltd. increased its stake in Navios Maritime Partners by 97.6% during the 4th quarter. Macquarie Group Ltd. now owns 44,409 shares of the shipping company’s stock worth $38,000 after acquiring an additional 21,937 shares during the period. Globeflex Capital L P bought a new position in Navios Maritime Partners during the 4th quarter worth $750,000. Finally, Two Sigma Securities LLC increased its stake in Navios Maritime Partners by 235.2% during the 4th quarter. Two Sigma Securities LLC now owns 38,535 shares of the shipping company’s stock worth $33,000 after acquiring an additional 27,039 shares during the period.
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 dry cargo commodities, including iron ore, coal, grain, and fertilizers, as well as charters its vessels under medium to long-term charters.
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