Corsair Capital Management L.P. Buys Shares of 20,000 Navigator Holdings Ltd. (NYSE:NVGS)

Corsair Capital Management L.P. purchased a new position in Navigator Holdings Ltd. (NYSE:NVGS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 20,000 shares of the shipping company’s stock, valued at approximately $321,000.

Several other hedge funds also recently added to or reduced their stakes in NVGS. Point72 Asset Management L.P. bought a new stake in Navigator during the second quarter valued at $38,000. Quarry LP acquired a new position in Navigator during the 2nd quarter worth $48,000. Perkins Coie Trust Co bought a new position in shares of Navigator in the second quarter worth $105,000. SG Americas Securities LLC raised its position in shares of Navigator by 9.1% during the 3rd quarter. SG Americas Securities LLC now owns 8,221 shares of the shipping company’s stock worth $132,000 after buying an additional 684 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Navigator in the 3rd quarter worth $273,000. 18.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com raised shares of Navigator from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Alliance Global Partners assumed coverage on shares of Navigator in a research note on Monday, October 28th. They issued a “buy” rating and a $24.00 price objective for the company. Clarkson Capital upgraded Navigator from a “neutral” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Thursday, August 22nd. Citigroup started coverage on shares of Navigator in a report on Wednesday, July 31st. They set a “buy” rating and a $22.00 price target for the company. Finally, DNB Markets began coverage on Navigator in a research note on Thursday, September 12th. They set a “buy” rating and a $22.00 price target for the company. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $21.60.

Navigator Price Performance

Shares of NVGS stock opened at $15.64 on Wednesday. The company has a market capitalization of $1.14 billion, a P/E ratio of 13.84 and a beta of 1.50. The stock has a 50 day moving average of $16.03 and a two-hundred day moving average of $16.37. Navigator Holdings Ltd. has a 12 month low of $13.85 and a 12 month high of $18.18. The company has a current ratio of 0.75, a quick ratio of 0.71 and a debt-to-equity ratio of 0.45.

Navigator Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Monday, November 25th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $0.20 dividend on an annualized basis and a yield of 1.28%. Navigator’s dividend payout ratio (DPR) is presently 17.70%.

About Navigator

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.