Numerai GP LLC Purchases 181,100 Shares of Ardmore Shipping Co. (NYSE:ASC)

Numerai GP LLC lifted its holdings in Ardmore Shipping Co. (NYSE:ASC - Free Report) by 241.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 256,128 shares of the shipping company's stock after buying an additional 181,100 shares during the period. Ardmore Shipping comprises approximately 0.9% of Numerai GP LLC's portfolio, making the stock its 11th biggest position. Numerai GP LLC owned about 0.61% of Ardmore Shipping worth $3,112,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ASC. Victory Capital Management Inc. raised its holdings in shares of Ardmore Shipping by 255.4% during the fourth quarter. Victory Capital Management Inc. now owns 465,777 shares of the shipping company's stock worth $5,659,000 after acquiring an additional 334,704 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Ardmore Shipping by 406.6% during the fourth quarter. Bleakley Financial Group LLC now owns 97,836 shares of the shipping company's stock worth $1,189,000 after acquiring an additional 78,524 shares in the last quarter. Barclays PLC raised its holdings in shares of Ardmore Shipping by 301.1% during the third quarter. Barclays PLC now owns 58,431 shares of the shipping company's stock worth $1,058,000 after acquiring an additional 43,862 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Ardmore Shipping by 261.1% during the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock worth $26,000 after acquiring an additional 1,530 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of Ardmore Shipping by 24.6% during the fourth quarter. Wellington Management Group LLP now owns 1,413,554 shares of the shipping company's stock worth $17,175,000 after acquiring an additional 279,403 shares in the last quarter. Hedge funds and other institutional investors own 62.22% of the company's stock.

Ardmore Shipping Stock Up 1.3%

Shares of NYSE ASC traded up $0.13 during mid-day trading on Friday, reaching $10.05. 561,612 shares of the company traded hands, compared to its average volume of 693,901. The company's fifty day moving average is $9.57 and its two-hundred day moving average is $10.88. Ardmore Shipping Co. has a fifty-two week low of $8.32 and a fifty-two week high of $23.44. The stock has a market cap of $408.15 million, a PE ratio of 3.28 and a beta of -0.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.86 and a current ratio of 4.24.

Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The shipping company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Ardmore Shipping had a net margin of 32.78% and a return on equity of 20.48%. The company had revenue of $74.00 million for the quarter, compared to analyst estimates of $43.04 million. During the same period in the prior year, the company posted $0.92 EPS. The firm's quarterly revenue was down 30.4% on a year-over-year basis. On average, analysts expect that Ardmore Shipping Co. will post 1.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ASC. Evercore ISI reduced their price target on Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group reissued a "buy" rating and set a $17.00 price objective on shares of Ardmore Shipping in a report on Thursday, February 13th. Stifel Nicolaus lowered their price objective on Ardmore Shipping from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Finally, Fearnley Fonds raised Ardmore Shipping from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 6th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.67.

About Ardmore Shipping

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.