Private Management Group Inc. Buys 168,731 Shares of Ardmore Shipping Co. (NYSE:ASC)

Private Management Group Inc. increased its stake in shares of Ardmore Shipping Co. (NYSE:ASC) by 16.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,204,828 shares of the shipping company’s stock after buying an additional 168,731 shares during the quarter. Private Management Group Inc. owned 2.88% of Ardmore Shipping worth $14,639,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Victory Capital Management Inc. raised its stake in Ardmore Shipping by 58.9% during the third quarter. Victory Capital Management Inc. now owns 131,073 shares of the shipping company’s stock worth $2,372,000 after acquiring an additional 48,598 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Ardmore Shipping during the 3rd quarter worth about $1,164,000. Foundry Partners LLC increased its position in shares of Ardmore Shipping by 217.5% during the 3rd quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company’s stock worth $10,232,000 after purchasing an additional 387,240 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Ardmore Shipping during the 3rd quarter valued at about $799,000. Finally, Janus Henderson Group PLC boosted its position in Ardmore Shipping by 40.2% in the third quarter. Janus Henderson Group PLC now owns 24,467 shares of the shipping company’s stock valued at $443,000 after buying an additional 7,010 shares in the last quarter. Institutional investors and hedge funds own 62.22% of the company’s stock.

Ardmore Shipping Trading Up 0.2 %

Shares of NYSE ASC opened at $11.85 on Thursday. Ardmore Shipping Co. has a 1-year low of $10.86 and a 1-year high of $23.44. The company has a 50-day moving average of $11.86 and a two-hundred day moving average of $15.22. The company has a market cap of $495.59 million, a PE ratio of 3.32 and a beta of 0.25. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Stifel Nicolaus lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $24.00 to $17.00 in a report on Wednesday, October 23rd. Jefferies Financial Group dropped their price target on Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $20.00.

Ardmore Shipping Company Profile

Ardmore Shipping Corporation engages in the seaborne transportation of petroleum products and chemicals worldwide. The company's fleet consists of 22 owned vessels including 21 Eco-design and 1 Eco-mod vessel, and four chartered-in vessels. It serves oil majors, oil companies, oil and chemical traders, chemical companies, and pooling service providers.