Macquarie Group Ltd. Acquires New Stake in Ardmore Shipping Corp (ASC)

Macquarie Group Ltd. acquired a new position in shares of Ardmore Shipping Corp (NYSE:ASC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,687 shares of the shipping company’s stock, valued at approximately $36,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Donald Smith & CO. Inc. lifted its position in Ardmore Shipping by 4.6% during the fourth quarter. Donald Smith & CO. Inc. now owns 3,041,010 shares of the shipping company’s stock worth $14,202,000 after purchasing an additional 135,097 shares during the period. Boston Partners lifted its position in Ardmore Shipping by 46.1% during the fourth quarter. Boston Partners now owns 2,148,566 shares of the shipping company’s stock worth $10,034,000 after purchasing an additional 677,916 shares during the period. Bank of New York Mellon Corp lifted its position in Ardmore Shipping by 22.7% during the fourth quarter. Bank of New York Mellon Corp now owns 2,124,098 shares of the shipping company’s stock worth $9,919,000 after purchasing an additional 393,054 shares during the period. BlackRock Inc. lifted its position in Ardmore Shipping by 18.5% during the fourth quarter. BlackRock Inc. now owns 1,903,432 shares of the shipping company’s stock worth $8,889,000 after purchasing an additional 296,893 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Ardmore Shipping by 14.4% during the fourth 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 during the period. 88.64% of the stock is owned by institutional investors and hedge funds.

Several research firms recently weighed in on ASC. Zacks Investment Research cut shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Morgan Stanley set a $7.00 price objective on shares of Ardmore Shipping and gave the stock a “hold” rating in a research report on Friday, February 15th. Finally, ValuEngine cut shares of Ardmore Shipping from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th.

ASC stock opened at $6.88 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.45 and a quick ratio of 1.28. Ardmore Shipping Corp has a 12 month low of $4.22 and a 12 month high of $8.75.

Ardmore Shipping (NYSE:ASC) last posted its earnings results on Wednesday, February 6th. The shipping company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.02). The company had revenue of $58.40 million during the quarter, compared to the consensus estimate of $30.45 million. Ardmore Shipping had a negative return on equity of 9.38% and a negative net margin of 20.43%. The firm’s revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company posted ($0.12) EPS. As a group, equities analysts predict that Ardmore Shipping Corp will post -0.13 EPS for the current fiscal year.

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Ardmore Shipping 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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