Navios Maritime Partners (NYSE:NMM) Cut to “Hold” at Jefferies Financial Group

Jefferies Financial Group lowered shares of Navios Maritime Partners (NYSE:NMM) from a buy rating to a hold rating in a report released on Wednesday morning, Briefing.com Automated Import reports. They currently have $9.00 target price on the shipping company’s stock.

Other equities research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Navios Maritime Partners from a strong sell rating to a sell rating in a report on Monday, July 13th. Zacks Investment Research raised shares of Navios Maritime Partners from a hold rating to a buy rating and set a $9.75 price objective on the stock in a research report on Saturday, July 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Navios Maritime Partners has a consensus rating of Hold and a consensus price target of $13.81.

Shares of NMM stock traded down $0.36 during trading hours on Wednesday, reaching $6.34. The company had a trading volume of 226,576 shares, compared to its average volume of 104,725. The company has a market cap of $69.68 million, a price-to-earnings ratio of -0.98 and a beta of 2.64. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.82 and a quick ratio of 0.82. Navios Maritime Partners has a 12 month low of $4.08 and a 12 month high of $21.30. The business has a fifty day simple moving average of $8.77 and a 200-day simple moving average of $8.68.

Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Wednesday, July 29th. The shipping company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.29). The company had revenue of $46.55 million for the quarter, compared to the consensus estimate of $46.69 million. Navios Maritime Partners had a negative net margin of 32.80% and a positive return on equity of 2.55%. On average, equities research analysts expect that Navios Maritime Partners will post 0.85 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, August 10th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, August 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.15%. Navios Maritime Partners’s dividend payout ratio (DPR) is 49.38%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Advisers LP grew its holdings in shares of Navios Maritime Partners by 5.3% during the first quarter. Two Sigma Advisers LP now owns 47,387 shares of the shipping company’s stock worth $252,000 after buying an additional 2,400 shares in the last quarter. UBS Group AG raised its holdings in Navios Maritime Partners by 12.1% in the 4th quarter. UBS Group AG now owns 106,240 shares of the shipping company’s stock valued at $1,978,000 after acquiring an additional 11,428 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in Navios Maritime Partners in the 1st quarter valued at about $134,000. Marshall Wace LLP lifted its stake in Navios Maritime Partners by 275.1% in the 4th quarter. Marshall Wace LLP now owns 9,430 shares of the shipping company’s stock worth $176,000 after purchasing an additional 6,916 shares in the last quarter. Finally, Globeflex Capital L P purchased a new stake in shares of Navios Maritime Partners in the first quarter valued at approximately $111,000. 8.91% of the stock is owned by institutional investors.

About Navios Maritime Partners

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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