GAMMA Investing LLC Has $26,000 Holdings in Ardmore Shipping Co. (NYSE:ASC)

GAMMA Investing LLC raised its holdings in shares of Ardmore Shipping Co. (NYSE:ASCFree Report) by 261.1% during the 4th quarter, HoldingsChannel reports. The fund owned 2,116 shares of the shipping company’s stock after purchasing an additional 1,530 shares during the period. GAMMA Investing LLC’s holdings in Ardmore Shipping were worth $26,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ASC. Renaissance Technologies LLC grew its position in Ardmore Shipping by 47.2% during the second quarter. Renaissance Technologies LLC now owns 1,400,981 shares of the shipping company’s stock valued at $31,564,000 after purchasing an additional 449,200 shares in the last quarter. Foundry Partners LLC boosted its stake in shares of Ardmore Shipping by 217.5% during the 3rd quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company’s stock valued at $10,232,000 after buying an additional 387,240 shares during the period. American Century Companies Inc. grew its holdings in shares of Ardmore Shipping by 27.4% during the 2nd quarter. American Century Companies Inc. now owns 1,124,835 shares of the shipping company’s stock valued at $25,343,000 after acquiring an additional 241,748 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Ardmore Shipping in the second quarter worth $3,976,000. Finally, Walleye Capital LLC purchased a new stake in shares of Ardmore Shipping during the third quarter worth $1,164,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Jefferies Financial Group lowered their target price on Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus downgraded Ardmore Shipping from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $24.00 to $17.00 in a report on Wednesday, October 23rd. Fearnley Fonds raised shares of Ardmore Shipping to a “hold” rating in a research report on Friday, September 27th. Finally, StockNews.com downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $20.00.

Get Our Latest Stock Report on ASC

Ardmore Shipping Stock Down 3.8 %

Shares of ASC stock opened at $13.09 on Wednesday. The stock’s 50 day simple moving average is $11.95 and its 200 day simple moving average is $16.16. Ardmore Shipping Co. has a twelve month low of $10.86 and a twelve month high of $23.44. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.26 and a current ratio of 3.57. The company has a market capitalization of $547.71 million, a price-to-earnings ratio of 3.67 and a beta of 0.28.

Ardmore Shipping Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date was Friday, November 29th. Ardmore Shipping’s payout ratio is 20.17%.

Ardmore Shipping Profile

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

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