Navios Maritime (NM) Bonds Trading 1.7% Higher

An issue of Navios Maritime Holdings Inc. (NYSE:NM) bonds rose 1.7% against their face value during trading on Tuesday. The high-yield issue of debt has a 11.25% coupon and is set to mature on August 15, 2022. The bonds in the issue are now trading at $91.75. Price changes in a company’s bonds in credit markets sometimes predict parallel changes in its share price.

NM has been the topic of several recent analyst reports. ValuEngine downgraded Navios Maritime from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research raised Navios Maritime from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $1.75.

Shares of NM opened at $0.72 on Thursday. The company has a market capitalization of $87.26 million, a PE ratio of -0.72 and a beta of 2.90. The company has a debt-to-equity ratio of 3.11, a quick ratio of 0.90 and a current ratio of 1.02. Navios Maritime Holdings Inc. has a one year low of $0.68 and a one year high of $1.90.

Navios Maritime (NYSE:NM) last announced its earnings results on Thursday, August 23rd. The shipping company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.08. The business had revenue of $132.05 million for the quarter, compared to the consensus estimate of $133.96 million. Navios Maritime had a negative return on equity of 15.68% and a negative net margin of 30.75%. sell-side analysts expect that Navios Maritime Holdings Inc. will post -0.86 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of NM. LMR Partners LLP acquired a new position in Navios Maritime during the 2nd quarter worth $272,000. GSA Capital Partners LLP acquired a new position in Navios Maritime during the 1st quarter worth $279,000. Paloma Partners Management Co acquired a new position in Navios Maritime during the 2nd quarter worth $380,000. Finally, Millennium Management LLC acquired a new position in Navios Maritime during the 2nd quarter worth $670,000. 11.59% of the stock is currently owned by hedge funds and other institutional investors.

About Navios Maritime (NYSE:NM)

Navios Maritime Holdings Inc operates as a seaborne shipping and logistics company in North America, Europe, Asia, South America, and internationally. The company focuses on the transportation and transshipment of dry bulk commodities, including iron ores, coal, and grains. It operates through two segments, Dry Bulk Vessel Operations and Logistics Business.

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