California Public Employees Retirement System Boosts Position in Navios Maritime Holdings Inc. (NM)
California Public Employees Retirement System raised its position in shares of Navios Maritime Holdings Inc. (NYSE:NM) by 3.2% during the second quarter, Holdings Channel reports. The fund owned 1,971,800 shares of the company’s stock after buying an additional 60,700 shares during the period. California Public Employees Retirement System owned approximately 1.86% of Navios Maritime Holdings worth $1,597,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LMR Partners LLP acquired a new position in Navios Maritime Holdings during the second quarter worth about $129,000. Renaissance Technologies LLC increased its position in Navios Maritime Holdings by 100.7% in the first quarter. Renaissance Technologies LLC now owns 520,302 shares of the company’s stock worth $588,000 after buying an additional 261,000 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Navios Maritime Holdings by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 727,873 shares of the company’s stock worth $822,000 after buying an additional 13,357 shares during the period. Institutional investors own 15.53% of the company’s stock.
Navios Maritime Holdings Inc. (NYSE:NM) traded up 1.72% during mid-day trading on Monday, reaching $1.18. The company had a trading volume of 68,398 shares. The firm’s market capitalization is $125.09 million. Navios Maritime Holdings Inc. has a one year low of $0.57 and a one year high of $3.08. The firm’s 50-day moving average is $1.11 and its 200-day moving average is $1.07.
Navios Maritime Holdings (NYSE:NM) last issued its quarterly earnings results on Thursday, August 25th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by $0.09. Navios Maritime Holdings had a negative net margin of 29.44% and a negative return on equity of 8.41%. The firm had revenue of $105.70 million for the quarter, compared to analysts’ expectations of $112.07 million. During the same period in the prior year, the company earned ($0.27) EPS. The firm’s quarterly revenue was down 11.8% on a year-over-year basis. On average, equities research analysts anticipate that Navios Maritime Holdings Inc. will post ($0.94) earnings per share for the current fiscal year.
Separately, Zacks Investment Research cut Navios Maritime Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $1.13.
About Navios Maritime Holdings
Navios Maritime Holdings Inc (Navios Holdings) is a global, vertically integrated seaborne shipping and logistics company. The Company is focused on the transport and transshipment of dry bulk commodities, including iron ore, coal and grain. It operates through two segments: the Dry bulk Vessel Operations and the Logistics Business.
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