Shares of Ashford Inc (NYSEAMERICAN:AINC) have earned an average recommendation of “Hold” from the six analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $71.00.
AINC has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Ashford from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. B. Riley downgraded shares of Ashford from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $67.00 to $81.00 in a research report on Tuesday, November 7th.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC acquired a new stake in shares of Ashford during the 4th quarter worth about $212,000. Globeflex Capital L P acquired a new stake in Ashford in the 4th quarter worth about $262,000. California Public Employees Retirement System acquired a new stake in Ashford in the 4th quarter worth about $281,000. Bank of New York Mellon Corp acquired a new stake in Ashford in the 4th quarter worth about $292,000. Finally, Snow Park Capital Partners LP acquired a new stake in Ashford in the 4th quarter worth about $1,226,000.
Ashford announced that its board has initiated a share repurchase program on Monday, December 11th that authorizes the company to buyback $20.00 million in shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
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Ashford Company Profile
Ashford Inc provides asset management and advisory services to other entities, primarily within the hospitality industry. The Company operates in the segment of asset and investment management, which includes managing the day-to-day operations of Ashford Hospitality Prime, Inc (Ashford Prime) and its subsidiaries.
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