Home / Shipping News / Hellenic Shipping News / Navios Maritime Partners (NMM) Downgraded by ValuEngine to Sell

Navios Maritime Partners (NMM) Downgraded by ValuEngine to Sell

ValuEngine cut shares of Navios Maritime Partners (NYSE:NMM) from a hold rating to a sell rating in a research report report.

Separately, Zacks Investment Research upgraded shares of Navios Maritime Partners from a hold rating to a buy rating and set a $2.25 price objective for the company in a research note on Wednesday, July 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Navios Maritime Partners has an average rating of Hold and an average price target of $2.33.

The firm has a market cap of $289.93 million, a price-to-earnings ratio of 10.81 and a beta of 1.61. Navios Maritime Partners has a 52 week low of $1.61 and a 52 week high of $2.62. 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 (NYSE:NMM) last announced its earnings results on Wednesday, August 1st. The shipping company reported $0.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. Navios Maritime Partners had a negative net margin of 16.31% and a positive return on equity of 3.98%. The firm had revenue of $58.20 million during the quarter, compared to analyst estimates of $57.07 million. sell-side analysts forecast that Navios Maritime Partners will post 0.2 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in NMM. Evermore Global Advisors LLC grew its position in shares of Navios Maritime Partners by 4.9% during the 2nd quarter. Evermore Global Advisors LLC now owns 10,792,588 shares of the shipping company’s stock worth $20,398,000 after purchasing an additional 500,155 shares in the last quarter. Credit Agricole S A acquired a new position in shares of Navios Maritime Partners during the 1st quarter worth approximately $216,000. Millennium Management LLC grew its position in shares of Navios Maritime Partners by 982.2% during the 1st quarter. Millennium Management LLC now owns 424,249 shares of the shipping company’s stock worth $764,000 after purchasing an additional 385,048 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of 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 purchasing an additional 310,316 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Navios Maritime Partners during the 4th quarter worth approximately $220,000. 19.60% of the stock is currently owned by hedge funds and other institutional investors.
Source: MarketBeat

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