Navigator Holdings Ltd. (NYSE:NVGS) Sees Significant Growth in Short Interest

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) was the recipient of a large 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 company's stock are sold short. Based on an average trading volume of 489,200 shares, the days-to-cover ratio is presently 4.9 days. Based on an average trading volume of 489,200 shares, the days-to-cover ratio is presently 4.9 days. Approximately 7.4% of the company's stock are sold short.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System bought a new position in shares of Navigator in the second quarter worth $29,000. Legal & General Group Plc bought a new position in shares of Navigator in the second quarter worth $42,000. Ameritas Investment Partners Inc. bought a new position in shares of Navigator in the second quarter worth $47,000. Osaic Holdings Inc. grew its stake in shares of Navigator by 21,406.3% in the second quarter. Osaic Holdings Inc. now owns 3,441 shares of the shipping company's stock worth $49,000 after purchasing an additional 3,425 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Navigator in the second quarter worth $59,000. Institutional investors own 18.95% of the company's stock.

Navigator Stock Performance

NYSE NVGS traded down $0.35 during trading hours on Friday, hitting $16.50. The company had a trading volume of 241,871 shares, compared to its average volume of 262,336. Navigator has a fifty-two week low of $10.55 and a fifty-two week high of $17.52. The company has a quick ratio of 1.53, a current ratio of 1.59 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $16.09 and a 200-day simple moving average of $14.51. The firm has a market cap of $1.14 billion, a P/E ratio of 12.99 and a beta of 0.67.

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

Navigator Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Thursday, August 28th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 28th. This represents a $0.20 annualized dividend and a yield of 1.2%. Navigator's dividend payout ratio (DPR) is currently 15.75%.

About Navigator

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.