Navios Maritime Partners (NMM) Downgraded by Zacks Investment Research

Τετάρτη, 10 Απριλίου 2019 16:08

Zacks Investment Research lowered shares of Navios Maritime Partners (NYSE:NMM) from a hold rating to a sell rating in a research note published on Thursday morning, Zacks.com reports.
According to Zacks, “Navios Maritime Partners L.P. is an international owner and operator of dry cargo vessels. It engages in the seaborne transportation services of drybulk commodities including iron ore, coal, grains, fertilizers and chartering of its vessels under medium to long-term charters. Navios Maritime Partners L.P. is headquartered in Piraeus, Greece."

Separately, ValuEngine raised shares of Navios Maritime Partners from a sell rating to a hold rating in a research report on Monday, April 1st.
Navios Maritime Partners has a 12-month low of $0.78 and a 12-month high of $2.11. The company has a market capitalization of $154.18 million, a PE ratio of 4.38 and a beta of 1.81. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.62.
Navios Maritime Partners (NYSE:NMM) last posted its earnings results on Thursday, January 31st. The shipping company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). Navios Maritime Partners had a positive return on equity of 4.57% and a negative net margin of 5.65%. The business had revenue of $57.54 million for the quarter, compared to analyst estimates of $57.92 million. As a group, equities research analysts anticipate that Navios Maritime Partners will post 0.04 earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the stock. Deutsche Bank AG lifted its position in Navios Maritime Partners by 983.2% during the fourth quarter. Deutsche Bank AG now owns 1,224,668 shares of the shipping company’s stock worth $1,039,000 after acquiring an additional 1,111,609 shares during the last quarter. Globeflex Capital L P acquired a new position in shares of Navios Maritime Partners in the fourth quarter valued at approximately $750,000. Renaissance Technologies LLC grew its position in shares of Navios Maritime Partners by 10.2% in the third quarter. Renaissance Technologies LLC now owns 2,601,200 shares of the shipping company’s stock valued at $4,552,000 after purchasing an additional 241,302 shares during the last quarter. Two Sigma Securities LLC grew its position in shares of Navios Maritime Partners by 235.2% in the fourth quarter. Two Sigma Securities LLC now owns 38,535 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 27,039 shares during the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Navios Maritime Partners by 97.6% during the fourth quarter. Macquarie Group Ltd. now owns 44,409 shares of the shipping company’s stock worth $38,000 after purchasing an additional 21,937 shares during the period. 12.72% of the stock is owned by institutional investors and hedge funds.

Source: MarketBeat

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