Bart Kelleher Sells 8,000 Shares of Ardmore Shipping (NYSE:ASC) Stock

Key Points

• Bart Kelleher sold 8,000 shares of Ardmore Shipping on May 5 at an average price of $19.07 for $152,560, cutting his stake by 11.76% to 60,039 shares; the transaction was disclosed to the SEC and executed under a pre‑arranged Rule 10b5‑1 trading plan.
• Ardmore beat expectations for the quarter with EPS of $0.28 (vs. $0.27) and revenue of $82.91M (vs. $51M), and recently declared a quarterly dividend of $0.09 (annualized $0.36, yield 1.9%, payout ratio 40.45%).
• The stock traded at $18.84 (52‑week range $9.18–$19.20) with a market cap around $767M and a P/E of 21.17, and analysts hold a "Moderate Buy" consensus with an average price target of $17 (two Buys, two Holds).

Ardmore Shipping Corporation (NYSE:ASC - Get Free Report) President Bart Kelleher sold 8,000 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $19.07, for a total transaction of $152,560.00. Following the sale, the president owned 60,039 shares of the company's stock, valued at approximately $1,144,943.73. The trade was a 11.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ardmore Shipping Stock Performance

ASC stock traded down $0.22 during trading on Wednesday, hitting $18.84. 839,934 shares of the company's stock traded hands, compared to its average volume of 701,103. The company has a quick ratio of 3.98, a current ratio of 4.33 and a debt-to-equity ratio of 0.20. Ardmore Shipping Corporation has a 52 week low of $9.18 and a 52 week high of $19.20. The stock has a fifty day moving average price of $15.69 and a two-hundred day moving average price of $13.40. The stock has a market capitalization of $767.39 million, a price-to-earnings ratio of 21.17 and a beta of 0.03.

Ardmore Shipping (NYSE:ASC - Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The shipping company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $82.91 million during the quarter, compared to analyst estimates of $51.00 million. Ardmore Shipping had a net margin of 13.22% and a return on equity of 7.02%.

Ardmore Shipping Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were given a dividend of $0.09 per share. The ex-dividend date was Friday, February 27th. This represents a $0.36 annualized dividend and a dividend yield of 1.9%. Ardmore Shipping's dividend payout ratio is currently 40.45%.

Analyst Upgrades and Downgrades

ASC has been the subject of several recent research reports. Wall Street Zen upgraded shares of Ardmore Shipping from a "hold" rating to a "buy" rating in a research report on Saturday, March 14th. Evercore set a $19.00 price target on shares of Ardmore Shipping in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $17.00.

Hedge Funds Weigh In On Ardmore Shipping

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bleakley Financial Group LLC acquired a new stake in Ardmore Shipping in the 1st quarter valued at about $218,000. Hsbc Holdings PLC increased its holdings in Ardmore Shipping by 13.5% in the first quarter. Hsbc Holdings PLC now owns 42,920 shares of the shipping company's stock worth $656,000 after buying an additional 5,093 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Ardmore Shipping by 28.0% in the first quarter. Y Intercept Hong Kong Ltd now owns 164,436 shares of the shipping company's stock worth $2,508,000 after buying an additional 35,923 shares during the last quarter. SmartHarvest Portfolios LLC grew its holdings in Ardmore Shipping by 12.0% during the first quarter. SmartHarvest Portfolios LLC now owns 16,702 shares of the shipping company's stock valued at $255,000 after purchasing an additional 1,796 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Ardmore Shipping in the first quarter valued at about $407,000. Institutional investors own 62.22% of the company's stock.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.

Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.

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