Russell Investments Group Ltd. Sells 539,832 Shares of Ardmore Shipping Corp (NYSE:ASC)

Russell Investments Group Ltd. reduced its stake in shares of Ardmore Shipping Corp (NYSE:ASC) by 12.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,647,193 shares of the shipping company’s stock after selling 539,832 shares during the period. Russell Investments Group Ltd. owned about 11.02% of Ardmore Shipping worth $29,703,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of ASC. Campbell & CO Investment Adviser LLC bought a new position in shares of Ardmore Shipping in the second quarter valued at approximately $95,000. SCP Investment LP bought a new position in shares of Ardmore Shipping in the second quarter valued at approximately $652,000. Dimensional Fund Advisors LP lifted its stake in Ardmore Shipping by 14.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,680,982 shares of the shipping company’s stock valued at $7,850,000 after purchasing an additional 210,973 shares during the last quarter. Adirondack Research & Management Inc. lifted its stake in Ardmore Shipping by 1.0% in the first quarter. Adirondack Research & Management Inc. now owns 398,837 shares of the shipping company’s stock valued at $2,457,000 after purchasing an additional 4,000 shares during the last quarter. Finally, WealthTrust Axiom LLC lifted its stake in Ardmore Shipping by 30.8% in the second quarter. WealthTrust Axiom LLC now owns 200,280 shares of the shipping company’s stock valued at $1,632,000 after purchasing an additional 47,180 shares during the last quarter. 86.63% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently commented on ASC shares. Pareto Securities upgraded Ardmore Shipping from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. ValuEngine downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Ardmore Shipping has an average rating of “Hold” and a consensus target price of $8.68.

Ardmore Shipping stock traded up $0.04 during trading on Wednesday, hitting $6.19. The stock had a trading volume of 2,976 shares, compared to its average volume of 221,093. Ardmore Shipping Corp has a 1 year low of $4.22 and a 1 year high of $8.77. The company has a quick ratio of 1.43, a current ratio of 1.59 and a debt-to-equity ratio of 1.21. The stock’s 50 day moving average is $6.67 and its two-hundred day moving average is $6.72. The stock has a market cap of $206.53 million, a price-to-earnings ratio of -5.96 and a beta of 1.23.

Ardmore Shipping (NYSE:ASC) last posted its quarterly earnings data on Wednesday, July 31st. The shipping company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Ardmore Shipping had a negative net margin of 21.50% and a negative return on equity of 7.82%. The firm had revenue of $55.00 million during the quarter, compared to analysts’ expectations of $32.16 million. During the same quarter in the previous year, the company posted ($0.26) EPS. Ardmore Shipping’s revenue for the quarter was up 5.0% on a year-over-year basis. As a group, equities research analysts anticipate that Ardmore Shipping Corp will post -0.23 EPS for the current fiscal year.

Ardmore Shipping Company Profile

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

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