Michael Zapata presented his in-depth investment thesis on Navigator Holdings (NYSE: NVGS) at Best Ideas 2017.
Navigator Holdings is the market leader in the liquefied gas carrier industry. The company serves a niche market with specialized barriers to entry and dominance of the Handysize market (25%+ market share), which has positioned Navigator to benefit from industry dynamics. An attractive valuation of less than 6x cash flow makes this a unique opportunity as the remainder of their ships come online in 2017. Michael anticipates an earnings and cash flow expansion with some outsized opportunities that would propel the stock. This investment provides a unique time to purchase a quality business with strong management in a steady market.
About the instructor:
Michael Zapata is founder and general partner of Sententia Capital. He received his B.S. from Texas A&M University and was commissioned as a Naval Officer in May of 2001. Throughout his time in the Navy, Michael served as a Navy SEAL officer and deployed seven times during the Global War on Terrorism. Following his last command at the Naval Special Warfare Development Group, Michael transitioned out of the military to attend Columbia Business School in 2011. There he was accepted into the The Heilbrunn Center for Graham and Dodd Investing and earned his master?s degree with a focus on investment management. Upon completion of his MBA, Michael formed Sententia Capital Management.
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