Millennium Management LLC Raises Position in Navios Maritime Partners L.P. (NMM)

Millennium Management LLC lifted its stake in Navios Maritime Partners L.P. (NYSE:NMM) by 17.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 496,941 shares of the shipping company’s stock after purchasing an additional 72,692 shares during the period. Millennium Management LLC owned 0.30% of Navios Maritime Partners worth $939,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. increased its holdings in shares of Navios Maritime Partners by 128.7% in the second quarter. Macquarie Group Ltd. now owns 76,773 shares of the shipping company’s stock valued at $145,000 after purchasing an additional 43,200 shares in the last quarter. Natixis increased its holdings in shares of Navios Maritime Partners by 166.7% in the second quarter. Natixis now owns 160,000 shares of the shipping company’s stock valued at $302,000 after purchasing an additional 100,000 shares in the last quarter. UBS Group AG grew its holdings 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 period. JPMorgan Chase & Co. grew its holdings in Navios Maritime Partners by 28.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,408,693 shares of the shipping company’s stock worth $2,536,000 after acquiring an additional 310,316 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Navios Maritime Partners by 31.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,359,898 shares of the shipping company’s stock worth $4,460,000 after acquiring an additional 564,098 shares during the period. 19.60% of the stock is owned by institutional investors and hedge funds.

NMM opened at $1.55 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.92 and a quick ratio of 1.92. Navios Maritime Partners L.P. has a 52 week low of $1.43 and a 52 week high of $2.62. The firm has a market cap of $268.14 million, a price-to-earnings ratio of 9.69 and a beta of 1.55.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Wednesday, November 7th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Tuesday, November 6th. Navios Maritime Partners’s dividend payout ratio is presently 50.00%.

NMM has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised shares of Navios Maritime Partners from a “neutral” rating to an “overweight” rating in a report on Wednesday, October 17th. ValuEngine lowered shares of Navios Maritime Partners from a “hold” rating to a “sell” rating in a report on Friday, September 14th. Finally, Zacks Investment Research lowered shares of Navios Maritime Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $2.26.

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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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Institutional Ownership by Quarter for Navios Maritime Partners (NYSE:NMM)

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