NNA - Navios Maritime Partners: Activist Investor Calls Out Management And Demands Substantial Changes

• Navios Maritime Partners looks like one of the greatest bargains in the entire shipping space at an estimated PE of just 2.
• Discounted valuation likely due to management aggressively raising new capital at large discounts to net asset value and related speculation of the company bailing out financially distressed affiliates.
• An activist investor has stepped up to the plate calling out management for recent actions and demanding substantial policy changes.
• Unfortunately, the provisions of the partnership agreement basically prevent outside unitholders from obtaining control of the company or at least remove current management.
• With the overhang from Navios Maritime Holdings likely to remain well into 2022, the current discount to net asset value is unlikely to diminish anytime soon.

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