Ardmore Shipping Co. (NYSE:ASC) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in Ardmore Shipping Co. (NYSE:ASC) by 261.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,116 shares of the shipping company’s stock after purchasing an additional 1,530 shares during the period. GAMMA Investing LLC’s holdings in Ardmore Shipping were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ASC. Point72 Asia Singapore Pte. Ltd. bought a new position in Ardmore Shipping in the 2nd quarter worth approximately $29,000. Private Trust Co. NA acquired a new position in Ardmore Shipping during the 3rd quarter worth $31,000. Nisa Investment Advisors LLC grew its stake in shares of Ardmore Shipping by 2,906.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,006 shares of the shipping company’s stock worth $54,000 after purchasing an additional 2,906 shares in the last quarter. Quarry LP increased its holdings in shares of Ardmore Shipping by 829.0% during the third quarter. Quarry LP now owns 3,558 shares of the shipping company’s stock valued at $64,000 after purchasing an additional 3,175 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Ardmore Shipping during the second quarter valued at about $72,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Ardmore Shipping Price Performance

ASC stock opened at $13.09 on Wednesday. Ardmore Shipping Co. has a one year low of $10.86 and a one year high of $23.44. The firm has a 50-day moving average of $11.95 and a two-hundred day moving average of $16.16. The firm has a market capitalization of $547.71 million, a PE ratio of 3.67 and a beta of 0.28. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03.

Ardmore Shipping Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date was Friday, November 29th. Ardmore Shipping’s dividend payout ratio is 20.17%.

Analyst Ratings Changes

ASC has been the subject of several research reports. Stifel Nicolaus cut Ardmore Shipping from a “buy” rating to a “hold” rating and decreased their target price for the company from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Fearnley Fonds upgraded shares of Ardmore Shipping to a “hold” rating in a report on Friday, September 27th. StockNews.com lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group decreased their price target on shares of Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.00.

About Ardmore Shipping

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.