Evermore Global Advisors has revealed a major position in Navios Maritime Containers.
According to Securities and Exchange Commission filings, the New Jersey investment firm said it owns more than 5 million shares of the Angeliki Frangou-led boxship owner, good for a 14.6% stake.
Of those shares, 3.6 million — or 10.5% — are owned by the Evermore Global Value Fund.
Navios Maritime Containers stocks have been trading on the Nasdaq Global Select Market since 10 December, after its direct listing got the go-ahead from the SEC in late November.
Prior to that, the boxship company was trading on Norwegian over-the-counter markets, where Evermore previously held 2.74 million shares.
The firm — which, per its website, invests in "complex, misunderstood or under-researched public companies" — has been investing in shipping since 2016. It started with Scorpio Bulkers, which remains its largest investment by dollar value at $46m, per its last quarterly SEC filing.
Evermore also owns 10 million shares in Navios Maritime Partners, plus large positions in Frontline and Genco.
In late trading Thursday, Navios Maritime Containers shares were trading at $3.10, up 1.64% or $0.05.
