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

StockNews.com initiated coverage on shares of Ashford (NYSE:AINC) in a research report sent to investors on Wednesday. The brokerage issued a hold rating on the stock.

Ashford Stock Performance

Shares of Ashford stock opened at $4.97 on Wednesday. Ashford has a 1-year low of $1.91 and a 1-year high of $9.50. The firm has a market cap of $17.10 million, a P/E ratio of -0.38 and a beta of 1.32. The stock’s 50-day simple moving average is $3.98.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Ashford stock. Renaissance Technologies LLC increased its position in Ashford Inc. (NYSE:AINC) by 50.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 77,553 shares of the company’s stock after acquiring an additional 26,000 shares during the period. Renaissance Technologies LLC owned about 2.25% of Ashford worth $381,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 13.32% of the company’s stock.

Ashford Company Profile

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.