American Century Companies Inc. raised its stake in shares of Ardmore Shipping Corp (NYSE:ASC) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,301,297 shares of the shipping company’s stock after purchasing an additional 45,906 shares during the quarter. American Century Companies Inc.’s holdings in Ardmore Shipping were worth $10,410,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its holdings in Ardmore Shipping by 32.4% during the second quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock valued at $120,000 after purchasing an additional 3,614 shares in the last quarter. Alliancebernstein L.P. acquired a new stake in Ardmore Shipping during the second quarter valued at approximately $155,000. The Manufacturers Life Insurance Company boosted its holdings in Ardmore Shipping by 4.3% during the second quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock valued at $255,000 after purchasing an additional 1,306 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Ardmore Shipping by 12.2% during the second quarter. TIAA CREF Investment Management LLC now owns 75,564 shares of the shipping company’s stock valued at $616,000 after purchasing an additional 8,212 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Ardmore Shipping by 16.7% during the second quarter. Vanguard Group Inc. now owns 88,479 shares of the shipping company’s stock valued at $721,000 after purchasing an additional 12,631 shares in the last quarter. 82.10% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ASC. Stifel Nicolaus set a $10.00 price objective on Ardmore Shipping and gave the company a “buy” rating in a report on Sunday, October 29th. Zacks Investment Research raised Ardmore Shipping from a “sell” rating to a “hold” rating in a report on Thursday, November 9th. Morgan Stanley lifted their price objective on Ardmore Shipping from $8.50 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, November 2nd. Seaport Global Securities set a $12.00 price objective on Ardmore Shipping and gave the company a “buy” rating in a report on Thursday, January 4th. Finally, Jefferies Group began coverage on Ardmore Shipping in a report on Monday, December 18th. They set a “buy” rating and a $11.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.33.
Ardmore Shipping Corp (ASC) opened at $7.45 on Friday. The company has a market capitalization of $245.10, a P/E ratio of -19.61, a PEG ratio of 7.04 and a beta of 1.12. The company has a quick ratio of 1.27, a current ratio of 1.44 and a debt-to-equity ratio of 1.07. Ardmore Shipping Corp has a 1-year low of $6.40 and a 1-year high of $9.05.
Ardmore Shipping (NYSE:ASC) last announced its earnings results on Wednesday, February 7th. The shipping company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.03. The business had revenue of $30.23 million for the quarter, compared to the consensus estimate of $30.24 million. Ardmore Shipping had a negative return on equity of 3.16% and a negative net margin of 6.37%. Ardmore Shipping’s revenue was up 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.11) EPS. research analysts anticipate that Ardmore Shipping Corp will post 0.1 earnings per share for the current fiscal year.
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Ardmore Shipping Profile
Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.
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