Navigator Global gains most in about 2 years on forecast upgrades

Navigator Global Investments

05/04/2022 01:43

** Shares of Navigator Global Investments  NGI.AX  surge as
much as 19.5% to A$1.900, their biggest intraday pct gain since
Aug. 13, 2020
    ** The hedge fund portfolio manager says it has upgraded its
FY22 guidance to $43 million — $45 million for adjusted EBITDA
against a previous forecast of $40 million-$42 million
 urn:newsml:reuters.com:*:nASM0006GQ
    ** Adds that co has raised forecast for adjusted NPAT of $33
million-$35 million for FY22
    ** Says reason for forecast raise is due to robust
performance from NGI Strategic Portfolio, after co invested in
it in February 2021
    ** Shares hit highest since Feb. 17
    ** Stock is down 14.3% this year, as of last close

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))