Monarch Partners Asset Management LLC Acquires 6,700 Shares of Ardmore Shipping Corp (NYSE:ASC)

Monarch Partners Asset Management LLC lifted its holdings in Ardmore Shipping Corp (NYSE:ASC) by 13.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 56,513 shares of the shipping company’s stock after purchasing an additional 6,700 shares during the period. Monarch Partners Asset Management LLC owned 0.17% of Ardmore Shipping worth $378,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Bank of Montreal Can increased its stake in shares of Ardmore Shipping by 17,931.6% in the second quarter. Bank of Montreal Can now owns 3,426 shares of the shipping company’s stock worth $28,000 after purchasing an additional 3,407 shares during the period. A.R.T. Advisors LLC bought a new position in Ardmore Shipping during the second quarter valued at about $88,000. Campbell & CO Investment Adviser LLC bought a new position in Ardmore Shipping during the second quarter valued at about $95,000. Wolverine Trading LLC bought a new position in Ardmore Shipping during the second quarter valued at about $102,000. Finally, Cutler Group LP increased its stake in Ardmore Shipping by 229.4% during the second quarter. Cutler Group LP now owns 15,153 shares of the shipping company’s stock valued at $123,000 after acquiring an additional 10,553 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.

ASC has been the topic of several research reports. Stifel Nicolaus lowered Ardmore Shipping from a “buy” rating to a “hold” rating and boosted their price target for the company from $9.00 to $9.50 in a research note on Thursday, October 17th. Fearnley Fonds lowered Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Tuesday, November 5th. Peel Hunt upgraded Ardmore Shipping to an “add” rating in a research note on Friday, October 25th. ValuEngine lowered 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, October 28th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $8.33.

ASC traded down $0.03 on Friday, hitting $7.50. 339,321 shares of the stock traded hands, compared to its average volume of 216,224. Ardmore Shipping Corp has a 52 week low of $4.22 and a 52 week high of $9.79. The company has a current ratio of 1.59, a quick ratio of 1.43 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $272.39 million, a PE ratio of -7.21 and a beta of 1.25. The business has a fifty day moving average price of $7.98 and a two-hundred day moving average price of $7.30.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings data on Tuesday, November 5th. The shipping company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. Ardmore Shipping had a negative return on equity of 6.04% and a negative net margin of 18.34%. The company had revenue of $52.10 million for the quarter, compared to analyst estimates of $29.98 million. During the same period in the prior year, the company posted ($0.37) EPS. The company’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts forecast that Ardmore Shipping Corp will post -0.12 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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