Acadian Asset Management LLC Sells 130,898 Shares of Navigator Holdings Ltd. $NVGS

Key Points

• Acadian Asset Management LLC reduced its stake in Navigator Holdings Ltd. by 6.6%, selling 130,898 shares to own approximately 2.69% of the company, valued at $24.8 million.
• Navigator Holdings reported a quarterly earnings miss with $0.14 EPS, falling short of analysts' expectations of $0.36, despite revenue exceeding estimates at $129.64 million.
• The company announced a quarterly dividend of $0.05 per share, with a scheduled payment date of September 17th and a yield of 1.2%.

Acadian Asset Management LLC lessened its holdings in Navigator Holdings Ltd. (NYSE:NVGS - Free Report) by 6.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,866,750 shares of the shipping company's stock after selling 130,898 shares during the quarter. Acadian Asset Management LLC owned 2.69% of Navigator worth $24,823,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Petrus Trust Company LTA lifted its position in shares of Navigator by 96.8% in the first quarter. Petrus Trust Company LTA now owns 90,002 shares of the shipping company's stock worth $1,198,000 after purchasing an additional 44,270 shares in the last quarter. SCS Capital Management LLC bought a new stake in Navigator during the first quarter worth $1,250,000. Bank of America Corp DE raised its position in Navigator by 31.0% during the fourth quarter. Bank of America Corp DE now owns 80,719 shares of the shipping company's stock worth $1,239,000 after acquiring an additional 19,121 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in Navigator by 284.3% during the first quarter. Cubist Systematic Strategies LLC now owns 206,108 shares of the shipping company's stock worth $2,743,000 after acquiring an additional 152,470 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Navigator during the first quarter worth $818,000. Institutional investors own 18.95% of the company's stock.

Navigator Stock Performance

Shares of NVGS stock traded down $0.30 on Tuesday, hitting $16.53. The company's stock had a trading volume of 34,604 shares, compared to its average volume of 363,913. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.53 and a current ratio of 1.59. The stock's 50 day moving average is $15.97 and its 200-day moving average is $14.46. Navigator Holdings Ltd. has a fifty-two week low of $10.55 and a fifty-two week high of $17.52. The company has a market capitalization of $1.15 billion, a PE ratio of 13.02 and a beta of 0.67.

Navigator (NYSE:NVGS - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The shipping company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.22). Navigator had a net margin of 15.57% and a return on equity of 6.56%. The business had revenue of $129.64 million during the quarter, compared to analyst estimates of $126.73 million. Equities research analysts expect that Navigator Holdings Ltd. will post 1.25 earnings per share for the current fiscal year.

Navigator Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Thursday, August 28th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 28th. This represents a $0.20 annualized dividend and a yield of 1.2%. Navigator's dividend payout ratio is currently 15.75%.

Analyst Ratings Changes

Separately, Jefferies Financial Group reaffirmed a "buy" rating and set a $19.00 price target on shares of Navigator in a research report on Wednesday, August 13th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $21.50.

Navigator Company Profile

Navigator Holdings Ltd. engages in owning and operating a fleet of liquefied gas carriers worldwide. It provides international and regional seaborne transportation services of petrochemical gases, liquefied petroleum gases, and ammonia for energy companies, industrial users, and commodity traders. The company also offers ship shore infrastructure and consultancy services.