Townsquare Capital LLC bought a new position in shares of Ardmore Shipping Co. (NYSE:ASC - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 36,481 shares of the shipping company's stock, valued at approximately $443,000. Townsquare Capital LLC owned approximately 0.09% of Ardmore Shipping at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in ASC. GAMMA Investing LLC increased its position in shares of Ardmore Shipping by 261.1% in the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock worth $26,000 after purchasing an additional 1,530 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Ardmore Shipping by 63.3% during the 4th quarter. Signaturefd LLC now owns 2,371 shares of the shipping company's stock worth $29,000 after acquiring an additional 919 shares during the last quarter. Farther Finance Advisors LLC grew its position in Ardmore Shipping by 302.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,519 shares of the shipping company's stock worth $31,000 after acquiring an additional 1,893 shares in the last quarter. Larson Financial Group LLC increased its stake in Ardmore Shipping by 228.1% in the fourth quarter. Larson Financial Group LLC now owns 4,922 shares of the shipping company's stock valued at $60,000 after acquiring an additional 3,422 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Ardmore Shipping by 18.5% during the fourth quarter. Legal & General Group Plc now owns 8,010 shares of the shipping company's stock valued at $97,000 after purchasing an additional 1,252 shares in the last quarter. 62.22% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have recently issued reports on ASC. Jefferies Financial Group reaffirmed a "buy" rating and issued a $17.00 price objective on shares of Ardmore Shipping in a research note on Thursday, February 13th. Stifel Nicolaus decreased 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, Evercore ISI dropped their target price on Ardmore Shipping from $14.00 to $13.00 and set an "outperform" rating for the company in a report on Tuesday. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $13.67.
View Our Latest Report on Ardmore Shipping
Ardmore Shipping Trading Up 2.2 %
NYSE ASC traded up $0.21 on Friday, hitting $9.58. The company's stock had a trading volume of 144,694 shares, compared to its average volume of 707,148. The company has a current ratio of 4.24, a quick ratio of 3.86 and a debt-to-equity ratio of 0.06. Ardmore Shipping Co. has a 52-week low of $8.32 and a 52-week high of $23.44. The firm has a market cap of $387.56 million, a P/E ratio of 3.13 and a beta of 0.16. The company's 50-day simple moving average is $9.57 and its 200 day simple moving average is $11.63.
Ardmore Shipping (NYSE:ASC - Get Free Report) last posted its earnings results on Thursday, February 13th. The shipping company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.08). Ardmore Shipping had a return on equity of 20.48% and a net margin of 32.78%. Research analysts predict that Ardmore Shipping Co. will post 1.06 EPS for the current fiscal year.
Ardmore Shipping Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 3.34%. The ex-dividend date was Friday, February 28th. Ardmore Shipping's dividend payout ratio is currently 10.46%.
About Ardmore Shipping
(
Free Report)
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.
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