Ardmore Shipping Corp (ASC) Position Reduced by Penn Capital Management Co. Inc.

Penn Capital Management Co. Inc. lessened its holdings in Ardmore Shipping Corp (NYSE:ASC) by 13.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 327,085 shares of the shipping company’s stock after selling 50,364 shares during the quarter. Penn Capital Management Co. Inc.’s holdings in Ardmore Shipping were worth $2,617,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Voya Investment Management LLC grew its holdings in shares of Ardmore Shipping by 32.4% during the second quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock worth $120,000 after purchasing an additional 3,614 shares during the last quarter. Alliancebernstein L.P. purchased a new position in shares of Ardmore Shipping during the second quarter worth about $155,000. The Manufacturers Life Insurance Company grew its holdings in shares of 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 worth $255,000 after purchasing an additional 1,306 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in shares of 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 worth $616,000 after purchasing an additional 8,212 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Ardmore Shipping by 16.7% during the second quarter. Vanguard Group Inc. now owns 88,479 shares of the shipping company’s stock worth $721,000 after buying an additional 12,631 shares during the period. 86.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ardmore Shipping Corp (NYSE:ASC) opened at $7.45 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.44 and a quick ratio of 1.27. Ardmore Shipping Corp has a 12-month low of $6.40 and a 12-month high of $9.05.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings data on Wednesday, February 7th. The shipping company reported ($0.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.03. The firm had revenue of $30.23 million during the quarter, compared to the consensus estimate of $30.24 million. Ardmore Shipping had a negative net margin of 6.37% and a negative return on equity of 3.16%. The firm’s revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.11) earnings per share. equities research analysts expect that Ardmore Shipping Corp will post 0.1 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on ASC shares. Stifel Nicolaus set a $9.00 target price on shares of Ardmore Shipping and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Seaport Global Securities set a $12.00 target price on shares of Ardmore Shipping and gave the stock a “buy” rating in a research note on Thursday, January 4th. Jefferies Group started coverage on shares of Ardmore Shipping in a research note on Monday, December 18th. They set a “buy” rating and a $11.00 target price for the company. Morgan Stanley raised their price objective on shares of Ardmore Shipping from $8.50 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Finally, Zacks Investment Research upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $10.33.

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About Ardmore Shipping

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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Institutional Ownership by Quarter for Ardmore Shipping (NYSE:ASC)

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