StockNews.com Initiates Coverage on Ashford (NYSE:AINC)

Equities researchers at StockNews.com initiated coverage on shares of Ashford (NYSE:AINC) in a research report issued on Thursday. The firm set a “hold” rating on the stock.

Ashford Price Performance

NYSE AINC opened at $4.97 on Thursday. The stock has a 50-day moving average of $4.37. The company has a market capitalization of $17.10 million, a P/E ratio of -0.38 and a beta of 1.32. Ashford has a 52 week low of $1.91 and a 52 week high of $9.50.

Hedge Funds Weigh In On Ashford

An institutional investor recently raised its position in Ashford stock. Renaissance Technologies LLC boosted its stake in shares of Ashford Inc. (NYSE:AINC) by 50.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,553 shares of the company’s stock after acquiring an additional 26,000 shares during the period. Renaissance Technologies LLC owned 2.25% of Ashford worth $381,000 at the end of the most recent quarter. 13.32% of the stock is currently owned by institutional investors.

About Ashford

Ashford, Inc is an asset management firm. The firm provides investment management and related services to the real estate and hospitality sectors. Ashford, Inc was formed on April 2, 2014 and is based in Dallas, Texas. Ashford Inc(NYSEAM:AINC) operates independently of Ashford Hospitality Trust, Inc as of November 5, 2019.