Navios Maritime Holdings Inc. (NM) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Navios Maritime Holdings Inc. (NYSE:NM) from a sell rating to a hold rating in a research note released on Friday morning.

According to Zacks, “Navios Maritime Holdings Inc. is a seaborne shipping and logistics company engaged in the transport and transshipment of drybulk commodities including iron ore, coal and grain. It operates in three segments: Drybulk Vessel Operations, Tanker Vessel Operations and Logistics Business. The Company also engages in operating ports and transfer station terminals and handles vessels, barges, and push boats, as well as operates upriver transport facilities in the Hidrovia region. Navios Maritime Holdings Inc. is headquartered in Piraeus, Greece. “

Several other brokerages also recently issued reports on NM. ValuEngine upgraded shares of Navios Maritime Holdings from a sell rating to a hold rating in a research report on Friday, July 28th. Citigroup Inc. cut their price objective on shares of Navios Maritime Holdings from $1.50 to $1.25 and set a sell rating for the company in a research report on Thursday, May 25th.

Shares of Navios Maritime Holdings (NYSE:NM) traded down 0.59% during trading on Friday, reaching $1.68. The company had a trading volume of 934,858 shares. Navios Maritime Holdings has a 12 month low of $0.95 and a 12 month high of $2.40. The firm has a 50 day moving average price of $1.43 and a 200 day moving average price of $1.47. The company’s market cap is $194.97 million.

Navios Maritime Holdings (NYSE:NM) last issued its quarterly earnings data on Tuesday, August 22nd. The shipping company reported ($0.26) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.04. The firm had revenue of $118.60 million during the quarter, compared to the consensus estimate of $114.27 million. Navios Maritime Holdings had a negative net margin of 22.05% and a negative return on equity of 14.37%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same period last year, the business posted ($0.29) earnings per share. Analysts predict that Navios Maritime Holdings will post ($0.94) earnings per share for the current year.

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Hedge funds have recently modified their holdings of the business. Parametric Portfolio Associates LLC lifted its position in Navios Maritime Holdings by 8.3% during the first quarter. Parametric Portfolio Associates LLC now owns 2,776,233 shares of the shipping company’s stock worth $5,192,000 after acquiring an additional 212,145 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Navios Maritime Holdings by 254.4% during the first quarter. Goldman Sachs Group Inc. now owns 858,152 shares of the shipping company’s stock worth $1,605,000 after purchasing an additional 615,981 shares during the period. Royce & Associates LP increased its holdings in shares of Navios Maritime Holdings by 2.2% during the second quarter. Royce & Associates LP now owns 1,606,349 shares of the shipping company’s stock worth $2,201,000 after purchasing an additional 35,000 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Navios Maritime Holdings by 9.8% during the first quarter. Renaissance Technologies LLC now owns 1,919,702 shares of the shipping company’s stock worth $3,590,000 after purchasing an additional 170,900 shares during the period. Finally, Advisor Group Inc. increased its holdings in shares of Navios Maritime Holdings by 3.9% during the second quarter. Advisor Group Inc. now owns 1,135,750 shares of the shipping company’s stock worth $1,555,000 after purchasing an additional 42,750 shares during the period. Hedge funds and other institutional investors own 21.03% of the company’s stock.

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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