Short Interest in Navigator Holdings Ltd. (NYSE:NVGS) Rises By 58.9%

Key Points

• Navigator Holdings Ltd. experienced a significant increase in short interest, rising 58.9% in August to a total of 2,400,000 shares.
• Hedge funds are actively investing in the company, with notable purchases from Geode Capital Management and Ameriprise Financial in Q2, increasing institutional ownership to 18.95%.
• Despite missing earnings expectations with a reported $0.14 EPS, Navigator declared a quarterly dividend of $0.05, indicating a stable payout ratio of 15.75%.

Navigator Holdings Ltd. (NYSE:NVGS - Get Free Report) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 2,400,000 shares, an increase of 58.9% from the August 15th total of 1,510,000 shares. Approximately 7.4% of the shares of the company are sold short. Based on an average daily volume of 489,200 shares, the short-interest ratio is presently 4.9 days. Based on an average daily volume of 489,200 shares, the short-interest ratio is presently 4.9 days. Approximately 7.4% of the shares of the company are sold short.

Navigator Price Performance

NVGS traded up $0.07 on Thursday, hitting $16.84. 156,997 shares of the company's stock traded hands, compared to its average volume of 269,259. Navigator has a one year low of $10.55 and a one year high of $17.52. The company's 50 day simple moving average is $16.07 and its 200-day simple moving average is $14.50. The company has a current ratio of 1.59, a quick ratio of 1.53 and a debt-to-equity ratio of 0.70. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 14.33 and a beta of 0.67.

Navigator (NYSE:NVGS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The shipping company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.22). Navigator had a net margin of 15.57% and a return on equity of 6.56%. The firm had revenue of $129.64 million for the quarter, compared to the consensus estimate of $126.73 million. As a group, research analysts anticipate that Navigator will post 1.25 EPS for the current year.

Navigator Dividend Announcement

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

Institutional Investors Weigh In On Navigator

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new stake in shares of Navigator in the 2nd quarter worth approximately $29,000. Legal & General Group Plc bought a new position in shares of Navigator during the 2nd quarter worth approximately $42,000. Ameritas Investment Partners Inc. bought a new position in shares of Navigator during the 2nd quarter worth approximately $47,000. Osaic Holdings Inc. raised its stake in shares of Navigator by 21,406.3% during the 2nd quarter. Osaic Holdings Inc. now owns 3,441 shares of the shipping company's stock worth $49,000 after acquiring an additional 3,425 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Navigator during the 2nd quarter worth approximately $59,000. Institutional investors own 18.95% of the company's stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group restated a "buy" rating and set a $19.00 price objective on shares of Navigator in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Navigator has an average rating of "Buy" and a consensus target price 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.