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NM - Navios Maritime

Guest Schwab711

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A few folks seem interested in shippers so I figured I'd post NM. It has a confusing structure with NMM being extremely linked but I was always interested in NM for one reason. The CEO has an ~26% stake and a lot (all?) of NM's debt has covenants that prevent her stake from falling below 20% without triggering a default. This ends up saving the company money on interest and gives some safety in that she eats the same cooking as you (of course with stock options along the way). A recent example was a secondary offering where she purchased $10m of the $20m offering!


I'm no help on the valuation and I stopped following NM a long time ago but I really like the management/culture.

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