Navios Maritime Partners L.P. (NYSE:NMM)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $1.60 and last traded at $1.64, with a volume of 3000 shares traded. The stock had previously closed at $1.62.
A number of equities analysts have recently commented on NMM shares. Zacks Investment Research raised Navios Maritime Partners from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Wednesday, July 11th. ValuEngine raised Navios Maritime Partners from a “sell” rating to a “hold” rating in a report on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $2.33.
The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $293.28 million, a P/E ratio of 10.19 and a beta of 1.62.
Navios Maritime Partners (NYSE:NMM) last issued its quarterly earnings data on Wednesday, August 1st. The shipping company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $58.20 million for the quarter, compared to analyst estimates of $57.07 million. Navios Maritime Partners had a positive return on equity of 3.98% and a negative net margin of 16.31%. On average, equities research analysts anticipate that Navios Maritime Partners L.P. will post 0.2 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the stock. Macquarie Group Ltd. grew its position in Navios Maritime Partners by 128.7% during the 2nd quarter. Macquarie Group Ltd. now owns 76,773 shares of the shipping company’s stock worth $145,000 after acquiring an additional 43,200 shares during the last quarter. Natixis bought a new stake in Navios Maritime Partners during the 1st quarter worth $107,000. Millennium Management LLC grew its position in Navios Maritime Partners by 17.1% during the 2nd quarter. Millennium Management LLC now owns 496,941 shares of the shipping company’s stock worth $939,000 after acquiring an additional 72,692 shares during the last quarter. Barclays PLC grew its position in Navios Maritime Partners by 286.0% during the 1st quarter. Barclays PLC now owns 144,737 shares of the shipping company’s stock worth $260,000 after acquiring an additional 107,236 shares during the last quarter. Finally, UBS Group AG grew its position in Navios Maritime Partners by 34.7% during the 1st quarter. UBS Group AG now owns 861,354 shares of the shipping company’s stock worth $1,550,000 after acquiring an additional 222,001 shares during the last quarter. Institutional investors and hedge funds own 19.60% of the company’s stock.
About Navios Maritime Partners (NYSE:NMM)
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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