Russell Investments Group Ltd. cut its position in Ardmore Shipping Co. (NYSE:ASC – Get Rating) by 6.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 798,775 shares of the shipping company’s stock after selling 56,946 shares during the quarter. Russell Investments Group Ltd. owned approximately 2.31% of Ardmore Shipping worth $3,592,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in Ardmore Shipping by 23.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 130,260 shares of the shipping company’s stock valued at $440,000 after acquiring an additional 24,939 shares during the last quarter. Institute for Wealth Management LLC. purchased a new stake in Ardmore Shipping during the 1st quarter valued at approximately $140,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Ardmore Shipping during the 4th quarter valued at approximately $100,000. First Eagle Investment Management LLC raised its stake in shares of Ardmore Shipping by 56.2% during the 4th quarter. First Eagle Investment Management LLC now owns 119,739 shares of the shipping company’s stock worth $405,000 after buying an additional 43,063 shares in the last quarter. Finally, Royce & Associates LP raised its stake in shares of Ardmore Shipping by 7.9% during the 4th quarter. Royce & Associates LP now owns 1,853,307 shares of the shipping company’s stock worth $6,264,000 after buying an additional 135,000 shares in the last quarter. 66.52% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ASC has been the subject of a number of analyst reports. Clarkson Capital reissued a “buy” rating on shares of Ardmore Shipping in a research note on Tuesday, June 14th. StockNews.com raised Ardmore Shipping from a “hold” rating to a “buy” rating in a research note on Friday, July 29th. TheStreet raised Ardmore Shipping from a “d+” rating to a “c-” rating in a research note on Wednesday, April 27th. HC Wainwright raised their price objective on Ardmore Shipping from $5.50 to $8.50 and gave the company a “buy” rating in a research note on Friday, April 22nd. Finally, Jefferies Financial Group began coverage on Ardmore Shipping in a research note on Wednesday, July 20th. They issued a “buy” rating and a $10.00 price objective for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.53.
Ardmore Shipping Price Performance
Shares of NYSE:ASC opened at $9.60 on Friday. The business’s fifty day moving average price is $7.72 and its two-hundred day moving average price is $6.05. The stock has a market cap of $331.91 million, a PE ratio of -239.94 and a beta of 0.36. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.25 and a current ratio of 2.54. Ardmore Shipping Co. has a one year low of $3.07 and a one year high of $9.83.
Ardmore Shipping (NYSE:ASC – Get Rating) last announced its earnings results on Wednesday, July 27th. The shipping company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.19. Ardmore Shipping had a return on equity of 2.52% and a net margin of 0.92%. During the same quarter in the previous year, the firm posted ($0.23) EPS. On average, analysts forecast that Ardmore Shipping Co. will post 2.41 EPS for the current fiscal year.
Ardmore Shipping Company Profile
Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. As of February 15, 2022, the company operated a fleet of 25 double-hulled product and chemical tankers. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.
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