Acadian Asset Management LLC Sells 229,460 Shares of StealthGas, Inc. $GASS

Key Points

• Acadian Asset Management LLC reduced its stake in StealthGas, Inc. by 17.6%, selling 229,460 shares and holding 1,073,748 shares, valued at approximately $6,044,000.
• Several institutional investors including Bank of America and Lazard Asset Management have increased their positions in StealthGas, with institutional ownership now at 66.32%.
• Wall Street analysts upgraded StealthGas from a "hold" rating to a "buy" rating, indicating positive sentiment for the stock's future performance.

Acadian Asset Management LLC reduced its holdings in shares of StealthGas, Inc. (NASDAQ:GASS - Free Report) by 17.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,073,748 shares of the shipping company's stock after selling 229,460 shares during the quarter. Acadian Asset Management LLC owned about 2.90% of StealthGas worth $6,044,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Cubist Systematic Strategies LLC lifted its stake in shares of StealthGas by 136.0% during the 1st quarter. Cubist Systematic Strategies LLC now owns 72,009 shares of the shipping company's stock valued at $407,000 after buying an additional 41,497 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of StealthGas during the 1st quarter valued at approximately $63,000. XTX Topco Ltd lifted its stake in shares of StealthGas by 18.3% during the 1st quarter. XTX Topco Ltd now owns 18,328 shares of the shipping company's stock valued at $104,000 after buying an additional 2,837 shares in the last quarter. Navellier & Associates Inc. lifted its stake in shares of StealthGas by 18.5% during the 1st quarter. Navellier & Associates Inc. now owns 82,572 shares of the shipping company's stock valued at $453,000 after buying an additional 12,886 shares in the last quarter. Finally, Towerview LLC lifted its stake in shares of StealthGas by 0.3% during the 1st quarter. Towerview LLC now owns 2,770,000 shares of the shipping company's stock valued at $15,650,000 after buying an additional 7,500 shares in the last quarter. 66.32% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of StealthGas from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th.

StealthGas Price Performance

Shares of NASDAQ:GASS traded up $0.01 during trading on Thursday, reaching $7.11. The company had a trading volume of 124,051 shares, compared to its average volume of 163,631. The company has a fifty day moving average of $7.02 and a two-hundred day moving average of $6.21. The stock has a market capitalization of $264.21 million, a P/E ratio of 4.31 and a beta of 0.32. StealthGas, Inc. has a 12 month low of $4.82 and a 12 month high of $8.18. The company has a current ratio of 3.87, a quick ratio of 3.73 and a debt-to-equity ratio of 0.04.

StealthGas Company Profile

StealthGas Inc, together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. The company's carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, as well as ammonia; refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel; and edible oils and chemicals.