ValuEngine cut shares of Navios Maritime Acquisition (NYSE:NNA) from a sell rating to a strong sell rating in a research note published on Wednesday morning.
NNA has been the subject of several other research reports. Zacks Investment Research upgraded Navios Maritime Acquisition from a sell rating to a hold rating in a research note on Thursday, December 28th. JPMorgan Chase & Co. reiterated a neutral rating on shares of Navios Maritime Acquisition in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $1.63.
Navios Maritime Acquisition (NYSE NNA) opened at $0.86 on Wednesday. The company has a debt-to-equity ratio of 2.30, a current ratio of 3.13 and a quick ratio of 0.92. The stock has a market capitalization of $128.91, a PE ratio of -1.73 and a beta of 1.12. Navios Maritime Acquisition has a 52 week low of $0.67 and a 52 week high of $1.78.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 27th. Stockholders of record on Thursday, March 22nd will be paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 9.26%. The ex-dividend date of this dividend is Wednesday, March 21st. Navios Maritime Acquisition’s payout ratio is presently -40.00%.
Navios Maritime Acquisition declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 7th that authorizes the company to repurchase $25.00 million in shares. This repurchase authorization authorizes the shipping company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
Hedge funds have recently bought and sold shares of the stock. Stifel Financial Corp lifted its stake in Navios Maritime Acquisition by 25.9% during the third quarter. Stifel Financial Corp now owns 1,410,486 shares of the shipping company’s stock worth $1,710,000 after purchasing an additional 290,552 shares during the last quarter. Northern Trust Corp lifted its stake in Navios Maritime Acquisition by 124.4% during the second quarter. Northern Trust Corp now owns 2,315,549 shares of the shipping company’s stock worth $3,404,000 after purchasing an additional 1,283,455 shares during the last quarter. Silver Rock Financial LP lifted its stake in Navios Maritime Acquisition by 22.1% during the fourth quarter. Silver Rock Financial LP now owns 750,000 shares of the shipping company’s stock worth $833,000 after purchasing an additional 135,737 shares during the last quarter. California Public Employees Retirement System lifted its stake in Navios Maritime Acquisition by 71.3% during the third quarter. California Public Employees Retirement System now owns 286,854 shares of the shipping company’s stock worth $350,000 after purchasing an additional 119,354 shares during the last quarter. Finally, Hosking Partners LLP lifted its stake in Navios Maritime Acquisition by 7.7% during the fourth quarter. Hosking Partners LLP now owns 1,350,945 shares of the shipping company’s stock worth $1,500,000 after purchasing an additional 96,166 shares during the last quarter. Hedge funds and other institutional investors own 20.52% of the company’s stock.
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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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