An issue of Navios Maritime Holdings Inc. (NYSE:NM) bonds rose 1.9% as a percentage of their face value during trading on Wednesday. The high-yield debt issue has a 7.25% coupon and will mature on May 1, 2022. The bonds in the issue are now trading at $75.25 and were trading at $70.25 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
Separately, Zacks Investment Research lowered shares of Navios Maritime Holdings from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 27th. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $1.13.
Shares of Navios Maritime Holdings Inc. (NYSE:NM) opened at 1.15 on Thursday. Navios Maritime Holdings Inc. has a 52-week low of $0.57 and a 52-week high of $3.26. The firm has a 50-day moving average of $1.05 and a 200-day moving average of $1.08. The stock’s market cap is $121.91 million.
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Navios Maritime Holdings (NYSE:NM) last announced its earnings results on Thursday, August 25th. The company reported ($0.29) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.20) by $0.09. Navios Maritime Holdings had a negative return on equity of 8.41% and a negative net margin of 29.44%. The company earned $105.70 million during the quarter, compared to the consensus estimate of $112.07 million. During the same period in the prior year, the firm posted ($0.27) earnings per share. The company’s revenue was down 11.8% on a year-over-year basis. On average, equities analysts expect that Navios Maritime Holdings Inc. will post ($0.94) EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. increased its position 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 in the last quarter. Renaissance Technologies LLC increased its stake 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 period. LMR Partners LLP acquired a new stake in Navios Maritime Holdings during the second quarter worth $129,000. California Public Employees Retirement System increased its stake in Navios Maritime Holdings by 3.2% in the second quarter. California Public Employees Retirement System now owns 1,971,800 shares of the company’s stock worth $1,597,000 after buying an additional 60,700 shares during the period. Finally, Pinnacle Holdings LLC increased its stake in Navios Maritime Holdings by 14.0% in the second quarter. Pinnacle Holdings LLC now owns 334,200 shares of the company’s stock worth $271,000 after buying an additional 41,000 shares during the period. 15.53% of the stock is owned by institutional investors.
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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