So...more dilution on the way..22M..the more she buys the more she borrows. I guess Jeffries thinks it's OK though. GLTA trader
I trimmed my position back after the CC. I sold some the day before when we got to 1.85 or 83 can't remember exactly. Then sold most right after the CC. I said it then and I say it again. No catalyst to move this stock for a while. Except for the "We bought a ship" which now I take to mean dilution. So that is even suspect as to a catalyst.
I have a really bad feeling we going to dilute and dilute and then a R/S. I hope I am wrong but just have that feeling.
Howdy all you shipping company owners. Did NMpartners close deal w container for selling 14 ships and we bag the extra 5 million? Was est to close June 1.
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NMM is up 10.26% to 1.72
I'm not 50 yrs old. I'm just 18 with 32 years of experience.
BDI continues to drop like a rock. Looks like sub 900 this week. So much for the recovery.
I think NMM might have reached its upward limit and that a pullback may be possible. Do you guys find it difficult to know when to buy or sell something? I prefer to get my stocks from awesome.stocks.
So I got to read the transcript. Here are my takes and highlights. Basically AF is proud of the fact they have weathered the storm and was able to take advantage and build the fleet. With BDI around 1000 ship prices are depressed and it' time to buy buy buy. Once BDI approaches 2000 ( 20 year average) then it's time to lock in contracts and create tons of cash flow, then distribute the cash.
That is why there is no definitive time table. No one knows when BDI will return to average. could be 2 - 3 years of building the empire, or could be six months. But she made it clear, that now is still in recovery mode and still in buy buy buy mode, not pay pay pay. LOL
So if all goes to plan. This could really turn out to be a huge investment pay off. Just goig to be a long process, so it seems.
Scrap value of NMM vessels '07 and older (23 vessels) plus Market value (per recent sales) of '08 and newer (12 vessels) is $510M. That's obviously a very conservative valuation of the fleet. Add cash $118M + $16M 'intangible asset' + "$37M 'current asset' -$29M 'current liability' +$90M 'non-current asset' -$26M 'non-current liability' -$427M LT debt, (all values from ER statement) and you get $289M / 150M shares = $1.92/share. I'm scratching my head.
Parent company NM just lost 45 cents a share. Angeliki has most of her money in NM, so watch for her to make even more moves to rob the subs and move money over to NM to rescue it.
Is it time to make a move on NMM? google awesomeSTO-CKS - they offer pretty good trade alerrts. you dont have to trade their tickers but it definetly helps you recognize possible patterns for stocks you're trading.
OMG all of these posts about paying a dividend now.... You all need to wake up and smell the roses. When I purchased into this company I knew it wasn't going to be just a one year thing not paying a dividend. The industry hit rock bottom and is still recovering. I would rather have a company that is competitive with the competition rather than to pay a dividend now. If you look around everyone else is purchasing ships left and right. NMM needs to grow the fleet and we all know that espically with ships at these prices. As I stated before I will keep purchasing over time and will hold on to it as I am long. If everything works out NMM could be a huge return on your investment. If you do not want to board the ship or you want to abandon ship then sell now. Enough said
I guess they have no plans of dividend reinstatement anytime soon? So then the question becomes how long to you let your money sit not earning anything. I would guess that is why people are selling today. Probably people trimming there positions to put there money to work else where. I would guess. I did not listen to call yet but that is my guess
Well just looking at the presentation and not listening to the call. They are not going out of business, they have really good cash flow and seem to have a lot of cash on hand. Why no dividend?
We are looking at 75.000.000 free cash flow next with current rates, that's $0.5 a share. Should NMM distribute that as dividend, lets say $0.12 a quarter, that will be 27% a year. Not bad, and this assuming current rates.
Could Stellar Daisy spark an end to the converted VLOC? -
Could a significant chunk of the global dry bulk fleet be set for accelerated scrapping? With a third elderly Polaris converted VLOC heading for repairs and under fire classification society Korean Registry admitting rule changes could come in the wa
AF and her team are doing nicely. They collect enviable salaries, expenses, stock benefits, and who knows what, while NMM investors see share units diluted, profits intentionally diverted to intra corporate entities to build NM parent company (not NMM) wealth.
NMM is not permitted by management to accrue profits and distribute to "Partners" why should anyone hold NMM awaiting visit from the tooth fairy?