Monarch Partners Asset Management LLC lifted its position in shares of Ardmore Shipping Corp (NYSE:ASC) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,513 shares of the shipping company’s stock after purchasing an additional 6,700 shares during the quarter. Monarch Partners Asset Management LLC owned approximately 0.17% of Ardmore Shipping worth $378,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other large investors have also recently made changes to their positions in ASC. Rhumbline Advisers grew its stake in shares of Ardmore Shipping by 5.8% in the 3rd quarter. Rhumbline Advisers now owns 49,725 shares of the shipping company’s stock valued at $333,000 after purchasing an additional 2,724 shares during the period. Wolverine Trading LLC bought a new stake in Ardmore Shipping in the second quarter valued at $102,000. Campbell & CO Investment Adviser LLC bought a new stake in Ardmore Shipping in the second quarter valued at $95,000. Marshall Wace LLP acquired a new position in Ardmore Shipping during the second quarter worth $308,000. Finally, SCP Investment LP acquired a new position in Ardmore Shipping during the second quarter worth $652,000. 88.80% of the stock is currently owned by institutional investors.
Ardmore Shipping stock opened at $7.88 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.34 and a debt-to-equity ratio of 1.20. Ardmore Shipping Corp has a 12-month low of $4.22 and a 12-month high of $9.79. The business’s 50-day simple moving average is $8.33 and its 200 day simple moving average is $7.39.
Ardmore Shipping (NYSE:ASC) last released its quarterly earnings results on Tuesday, November 5th. The shipping company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.01. Ardmore Shipping had a negative return on equity of 6.11% and a negative net margin of 18.34%. The firm had revenue of $52.10 million during the quarter, compared to the consensus estimate of $29.98 million. During the same quarter in the prior year, the firm posted ($0.37) EPS. The business’s revenue was up 6.5% on a year-over-year basis. Equities research analysts forecast that Ardmore Shipping Corp will post -0.2 EPS for the current fiscal year.
A number of research analysts have issued reports on ASC shares. Zacks Investment Research raised Ardmore Shipping from a “sell” rating to a “hold” rating in a report on Monday, October 28th. Fearnley Fonds lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus downgraded shares of Ardmore Shipping from a “buy” rating to a “hold” rating and upped their price target for the stock from $9.00 to $9.50 in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Ardmore Shipping currently has an average rating of “Hold” and a consensus target price of $8.33.
About Ardmore Shipping
Ardmore Shipping Corporation, together with its subsidiaries, engages in the seaborne transportation of petroleum products and chemicals worldwide. As of January 31, 2019, the company operated a fleet of 27 double-hulled product and chemical tankers, including 21 Eco-design and 6 Eco-mod vessels. It serves oil majors, oil companies, oil and chemical traders, and chemical companies.
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