Navios Maritime Acquisition Co. (NYSE:NNA) rose 0% during mid-day trading on Tuesday . The stock traded as high as $0.78 and last traded at $0.75. Approximately 1,084,453 shares changed hands during trading, an increase of 25% from the average daily volume of 867,880 shares. The stock had previously closed at $0.75.
NNA has been the subject of several research reports. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Navios Maritime Acquisition in a report on Friday, January 19th. Zacks Investment Research upgraded Navios Maritime Acquisition from a “sell” rating to a “hold” rating in a report on Thursday, December 28th. Stifel Nicolaus set a $2.00 price target on Navios Maritime Acquisition and gave the company a “buy” rating in a report on Sunday, October 29th. Finally, ValuEngine lowered Navios Maritime Acquisition from a “sell” rating to a “strong sell” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $1.63.
The stock has a market cap of $113.94, a price-to-earnings ratio of -1.52 and a beta of 1.15. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.92 and a current ratio of 0.92.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Investors of record on Thursday, March 22nd will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 10.67%. The ex-dividend date is Wednesday, March 21st. Navios Maritime Acquisition’s payout ratio is -40.00%.
Navios Maritime Acquisition declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 7th that authorizes the company to repurchase $25.00 million in outstanding shares. This repurchase authorization authorizes the shipping company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Several hedge funds have recently modified their holdings of NNA. Northern Trust Corp raised its stake in shares of Navios Maritime Acquisition by 124.4% in the 2nd quarter. Northern Trust Corp now owns 2,315,549 shares of the shipping company’s stock valued at $3,404,000 after acquiring an additional 1,283,455 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Navios Maritime Acquisition by 53.6% in the 2nd quarter. Stifel Financial Corp now owns 1,119,934 shares of the shipping company’s stock valued at $1,638,000 after acquiring an additional 390,870 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Navios Maritime Acquisition by 71.3% in the 3rd quarter. California Public Employees Retirement System now owns 286,854 shares of the shipping company’s stock valued at $350,000 after acquiring an additional 119,354 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Navios Maritime Acquisition in the 3rd quarter valued at approximately $124,000. Finally, Hosking Partners LLP raised its stake in shares of Navios Maritime Acquisition by 7.7% in the 4th quarter. Hosking Partners LLP now owns 1,350,945 shares of the shipping company’s stock valued at $1,500,000 after acquiring an additional 96,166 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.
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About Navios Maritime Acquisition
Navios Maritime Acquisition Corporation is an international shipping company. The Company owns a fleet of modern crude oil, refined petroleum product and chemical tankers providing marine transportation services around the world. The Company charters its vessels to international oil companies, refiners and vessel operators under long, medium and short-term charters.
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