BidaskClub Downgrades Navios Maritime Partners L.P. (NYSE:NMM) to Sell

Navios Maritime Partners L.P. (NYSE:NMM) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other equities research analysts also recently weighed in on NMM. Zacks Investment Research downgraded Navios Maritime Partners L.P. from a “buy” rating to a “hold” rating in a research note on Friday, March 31st. Citigroup Inc. raised their price target on Navios Maritime Partners L.P. from $2.00 to $2.25 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Jefferies Group LLC initiated coverage on Navios Maritime Partners L.P. in a research note on Monday, June 5th. They set a “buy” rating and a $2.00 price target for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $2.25 price target on shares of Navios Maritime Partners L.P. in a research note on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Navios Maritime Partners L.P. presently has an average rating of “Hold” and a consensus target price of $2.19.

Shares of Navios Maritime Partners L.P. (NMM) traded down 0.57% during mid-day trading on Thursday, hitting $1.74. The stock had a trading volume of 1,202,171 shares. Navios Maritime Partners L.P. has a one year low of $1.15 and a one year high of $2.94. The company has a 50-day moving average of $1.60 and a 200 day moving average of $1.80. The firm’s market cap is $153.69 million.

Navios Maritime Partners L.P. (NYSE:NMM) last announced its quarterly earnings data on Thursday, July 27th. The shipping company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $50.02 million during the quarter, compared to the consensus estimate of $44.37 million. Navios Maritime Partners L.P. had a negative return on equity of 3.01% and a negative net margin of 13.33%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS. On average, equities research analysts forecast that Navios Maritime Partners L.P. will post $0.04 earnings per share for the current year.

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Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new stake in Navios Maritime Partners L.P. during the fourth quarter worth $109,000. Two Sigma Investments LP increased its stake in Navios Maritime Partners L.P. by 98.8% in the fourth quarter. Two Sigma Investments LP now owns 185,507 shares of the shipping company’s stock worth $262,000 after buying an additional 92,209 shares during the period. Sanders Morris Harris Inc. increased its stake in Navios Maritime Partners L.P. by 134.3% in the first quarter. Sanders Morris Harris Inc. now owns 282,650 shares of the shipping company’s stock worth $585,000 after buying an additional 162,000 shares during the period. Nine Chapters Capital Management LLC purchased a new stake in Navios Maritime Partners L.P. during the first quarter worth $125,000. Finally, JPMorgan Chase & Co. increased its stake in Navios Maritime Partners L.P. by 182.8% in the first quarter. JPMorgan Chase & Co. now owns 1,501,072 shares of the shipping company’s stock worth $3,108,000 after buying an additional 970,357 shares during the period. 19.21% of the stock is owned by institutional investors.

About Navios Maritime Partners L.P.

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.