Navios Maritime Partners LP (NYSE:NMM) Rating Increased to Hold at BidaskClub

Navios Maritime Partners LP (NYSE:NMM) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday, August 2nd.

Several other brokerages have also commented on NMM. Stifel Nicolaus reiterated a “hold” rating and set a $2.25 price objective on shares of Navios Maritime Partners in a research report on Friday, June 23rd. Citigroup Inc. raised their price target on Navios Maritime Partners from $2.00 to $2.25 and gave the stock a “neutral” rating in a research report on Tuesday, April 25th. Zacks Investment Research lowered Navios Maritime Partners from a “buy” rating to a “sell” rating in a research report on Tuesday, July 25th. Finally, Jefferies Group LLC began coverage on Navios Maritime Partners in a research report on Monday, June 5th. They issued a “buy” rating and a $2.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $2.19.

Shares of Navios Maritime Partners (NYSE:NMM) opened at 1.90 on Wednesday. The company’s market cap is $285.85 million. The stock has a 50 day moving average of $1.68 and a 200 day moving average of $1.81. Navios Maritime Partners has a 12-month low of $1.15 and a 12-month high of $2.94.

Navios Maritime Partners (NYSE:NMM) last released its quarterly earnings results on Thursday, July 27th. The shipping company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. Navios Maritime Partners had a positive return on equity of 2.60% and a negative net margin of 19.50%. The firm had revenue of $50.02 million for the quarter, compared to analysts’ expectations of $44.37 million. During the same quarter last year, the firm posted $0.05 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, equities analysts expect that Navios Maritime Partners will post $0.07 earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of NMM. Evermore Global Advisors LLC raised its stake in shares of Navios Maritime Partners by 19.8% in the second quarter. Evermore Global Advisors LLC now owns 7,134,433 shares of the shipping company’s stock valued at $11,344,000 after buying an additional 1,177,833 shares during the last quarter. Raging Capital Management LLC bought a new stake in Navios Maritime Partners during the first quarter valued at about $8,043,000. JPMorgan Chase & Co. raised its stake in Navios Maritime Partners by 182.8% in the first quarter. JPMorgan Chase & Co. now owns 1,501,072 shares of the shipping company’s stock valued at $3,108,000 after buying an additional 970,357 shares in the last quarter. Sound Point Capital Management LP acquired a new position in shares of Navios Maritime Partners during the first quarter valued at approximately $2,103,000. Finally, Credit Suisse AG acquired a new position in shares of Navios Maritime Partners during the first quarter valued at approximately $1,780,000. 19.17% of the stock is owned by institutional investors and hedge funds.

About Navios Maritime Partners

Navios Maritime Partners L.P. is an international owner and operator of dry cargo and container vessels. The Company is engaged in the seaborne transportation services of a range of dry cargo commodities, including iron ore, coal, grain and fertilizer, and also containers, chartering its vessels under medium to long-term charters.

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