Verition Fund Management LLC Increases Position in Navigator Holdings Ltd. (NYSE:NVGS)

Verition Fund Management LLC grew its stake in Navigator Holdings Ltd. (NYSE:NVGS) by 56.6% during the third quarter, HoldingsChannel reports. The fund owned 26,158 shares of the shipping company’s stock after acquiring an additional 9,458 shares during the quarter. Verition Fund Management LLC’s holdings in Navigator were worth $420,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Asset Management L.P. purchased a new position in shares of Navigator in the 2nd quarter valued at $38,000. Quarry LP purchased a new position in shares of Navigator in the 2nd quarter valued at $48,000. SG Americas Securities LLC increased its holdings in shares of Navigator by 9.1% in the 3rd quarter. SG Americas Securities LLC now owns 8,221 shares of the shipping company’s stock valued at $132,000 after acquiring an additional 684 shares during the period. Perkins Coie Trust Co increased its holdings in shares of Navigator by 66.7% in the 3rd quarter. Perkins Coie Trust Co now owns 10,000 shares of the shipping company’s stock valued at $161,000 after acquiring an additional 4,000 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Navigator in the 2nd quarter valued at $279,000. 18.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVGS shares. Clarkson Capital raised Navigator from a “neutral” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Thursday, August 22nd. Alliance Global Partners started coverage on Navigator in a research report on Monday, October 28th. They issued a “buy” rating and a $24.00 price objective for the company. StockNews.com raised Navigator from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. DNB Markets started coverage on Navigator in a research report on Thursday, September 12th. They issued a “buy” rating and a $22.00 price objective for the company. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $20.00 price objective on shares of Navigator in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Navigator has an average rating of “Buy” and an average price target of $21.60.

Navigator Price Performance

NYSE:NVGS opened at $15.51 on Friday. Navigator Holdings Ltd. has a 12 month low of $13.94 and a 12 month high of $18.18. The stock has a 50 day moving average of $15.86 and a two-hundred day moving average of $16.27. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.45. The firm has a market cap of $1.13 billion, a P/E ratio of 13.72 and a beta of 1.47.

Navigator Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend is Monday, November 25th. Navigator’s dividend payout ratio is currently 17.70%.

Navigator Company Profile

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.