Navigator (NYSE:NVGS) Shares Gap Up to $16.10

Navigator Holdings Ltd. (NYSE:NVGS) gapped up before the market opened on Thursday . The stock had previously closed at $16.10, but opened at $16.50. Navigator shares last traded at $16.45, with a volume of 33,035 shares.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVGS. Jefferies Financial Group restated a “buy” rating and issued a $20.00 target price on shares of Navigator in a report on Thursday, August 15th. 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 note on Thursday. Citigroup initiated coverage on Navigator in a research report on Wednesday, July 31st. They set a “buy” rating and a $22.00 price objective for the company. Finally, StockNews.com upgraded Navigator from a “hold” rating to a “buy” rating in a report on Wednesday.

Navigator Stock Performance

The stock has a fifty day moving average price of $16.60 and a 200 day moving average price of $16.00. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.52. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 13.76 and a beta of 1.51.

Navigator Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Tuesday, September 3rd will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Tuesday, September 3rd. Navigator’s dividend payout ratio is 17.09%.

Institutional Trading of Navigator

Several large investors have recently modified their holdings of NVGS. Point72 Asset Management L.P. bought a new position in shares of Navigator in the second quarter worth about $38,000. Quarry LP acquired a new stake in Navigator in the 2nd quarter valued at approximately $48,000. Millennium Management LLC increased its position in Navigator by 14.4% in the 2nd quarter. Millennium Management LLC now owns 661,288 shares of the shipping company’s stock worth $11,546,000 after buying an additional 83,344 shares during the period. Encompass Capital Advisors LLC acquired a new position in shares of Navigator during the second quarter worth approximately $23,571,000. Finally, Marshall Wace LLP boosted its position in shares of Navigator by 361.3% in the second quarter. Marshall Wace LLP now owns 207,039 shares of the shipping company’s stock valued at $3,615,000 after acquiring an additional 162,160 shares during the period. 18.95% of the stock is owned by institutional investors.

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.