Ardmore Shipping Corp (NYSE:ASC) Shares Bought by GeoSphere Capital Management LLC

GeoSphere Capital Management LLC boosted its holdings in Ardmore Shipping Corp (NYSE:ASC) by 30.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 59,213 shares of the shipping company’s stock after buying an additional 13,808 shares during the quarter. Ardmore Shipping accounts for about 1.5% of GeoSphere Capital Management LLC’s investment portfolio, making the stock its 15th largest position. GeoSphere Capital Management LLC owned approximately 0.18% of Ardmore Shipping worth $483,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of ASC. Dimensional Fund Advisors LP grew its position in Ardmore Shipping by 14.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,680,982 shares of the shipping company’s stock worth $7,850,000 after purchasing an additional 210,973 shares in the last quarter. Private Management Group Inc. grew its holdings in shares of Ardmore Shipping by 2.4% during the 1st quarter. Private Management Group Inc. now owns 848,865 shares of the shipping company’s stock valued at $5,229,000 after acquiring an additional 20,215 shares in the last quarter. Schneider Capital Management Corp grew its holdings in shares of Ardmore Shipping by 0.6% during the 1st quarter. Schneider Capital Management Corp now owns 722,798 shares of the shipping company’s stock valued at $4,452,000 after acquiring an additional 3,977 shares in the last quarter. Adirondack Research & Management Inc. grew its holdings in shares of Ardmore Shipping by 1.0% during the 1st quarter. Adirondack Research & Management Inc. now owns 398,837 shares of the shipping company’s stock valued at $2,457,000 after acquiring an additional 4,000 shares in the last quarter. Finally, Kennedy Capital Management Inc. grew its holdings in shares of Ardmore Shipping by 125.3% during the 1st quarter. Kennedy Capital Management Inc. now owns 225,317 shares of the shipping company’s stock valued at $1,388,000 after acquiring an additional 125,317 shares in the last quarter. Hedge funds and other institutional investors own 86.63% of the company’s stock.

Several research firms recently issued reports on ASC. Zacks Investment Research raised shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Pareto Securities raised shares of Ardmore Shipping from a “hold” rating to a “buy” rating in a research note on Friday, June 28th. Finally, ValuEngine lowered shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Ardmore Shipping has an average rating of “Hold” and a consensus target price of $8.68.

Ardmore Shipping stock traded up $0.18 on Friday, reaching $7.50. 1,176 shares of the stock were exchanged, compared to its average volume of 205,593. The firm has a fifty day moving average price of $6.45 and a two-hundred day moving average price of $6.76. The stock has a market cap of $227.05 million, a PE ratio of -7.11 and a beta of 1.23. The company has a current ratio of 1.59, a quick ratio of 1.43 and a debt-to-equity ratio of 1.21. Ardmore Shipping Corp has a twelve month low of $4.22 and a twelve month high of $8.77.

Ardmore Shipping (NYSE:ASC) last posted its earnings results on Wednesday, July 31st. The shipping company reported ($0.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Ardmore Shipping had a negative return on equity of 7.82% and a negative net margin of 21.50%. The firm had revenue of $55.00 million during the quarter, compared to analyst estimates of $32.16 million. During the same quarter last year, the business posted ($0.26) earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts anticipate that Ardmore Shipping Corp will post -0.23 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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