Tudor Investment Corp ET AL Invests $1.17 Million in Ardmore Shipping Corporation $ASC

Key Points

• Tudor Investment Corp ET AL opened a new position in Ardmore Shipping, buying 98,571 shares worth about $1.17 million, representing roughly 0.24% of the company.
• Analyst sentiment is positive with a consensus rating of “Moderate Buy” and an average price target of $15.00, based on one Strong Buy, two Buy and two Hold ratings.
• Ardmore recently reported a slight EPS beat ($0.28 vs. $0.27) and stronger-than-expected revenue, trades near $15.72 with a market cap of ~$640M, and pays a quarterly dividend of $0.09 (annualized yield ~2.3%).

Tudor Investment Corp ET AL bought a new position in shares of Ardmore Shipping Corporation (NYSE:ASC - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The fund bought 98,571 shares of the shipping company's stock, valued at approximately $1,170,000. Tudor Investment Corp ET AL owned 0.24% of Ardmore Shipping as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ASC. Raymond James Financial Inc. purchased a new position in Ardmore Shipping in the 2nd quarter worth approximately $38,000. Ameriflex Group Inc. purchased a new position in Ardmore Shipping in the 3rd quarter worth approximately $59,000. EverSource Wealth Advisors LLC boosted its holdings in Ardmore Shipping by 1,689.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,444 shares of the shipping company's stock worth $81,000 after acquiring an additional 7,972 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Ardmore Shipping by 536.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,737 shares of the shipping company's stock worth $84,000 after acquiring an additional 7,364 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Ardmore Shipping by 14.8% in the 3rd quarter. GAMMA Investing LLC now owns 7,241 shares of the shipping company's stock worth $86,000 after acquiring an additional 931 shares during the period. Hedge funds and other institutional investors own 62.22% of the company's stock.

Analyst Upgrades and Downgrades

ASC has been the subject of a number of analyst reports. Wall Street Zen upgraded Ardmore Shipping from a "hold" rating to a "buy" rating in a report on Saturday, March 14th. Weiss Ratings restated a "hold (c-)" rating on shares of Ardmore Shipping in a report on Wednesday, December 24th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, Ardmore Shipping presently has a consensus rating of "Moderate Buy" and an average price target of $15.00.

Ardmore Shipping Stock Performance

Ardmore Shipping stock opened at $15.72 on Tuesday. The stock has a market cap of $640.45 million, a P/E ratio of 17.67 and a beta of -0.14. The company has a current ratio of 4.33, a quick ratio of 3.98 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $14.86 and a 200-day moving average of $12.92. Ardmore Shipping Corporation has a 52 week low of $8.61 and a 52 week high of $16.91.

Ardmore Shipping (NYSE:ASC - Get Free Report) last released its earnings results on Thursday, February 12th. The shipping company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $82.91 million during the quarter, compared to analysts' expectations of $51.00 million. Ardmore Shipping had a return on equity of 7.02% and a net margin of 13.22%. On average, analysts expect that Ardmore Shipping Corporation will post 1.06 EPS for the current fiscal year.

Ardmore Shipping Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Friday, February 27th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 2.3%. The ex-dividend date was Friday, February 27th. Ardmore Shipping's dividend payout ratio is 40.45%.

Ardmore Shipping 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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