Monarch Partners Asset Management LLC Has $378,000 Stock Position in Ardmore Shipping Corp (NYSE:ASC)

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Monarch Partners Asset Management LLC grew its stake in Ardmore Shipping Corp (NYSE:ASC) by 13.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,513 shares of the shipping company’s stock after purchasing an additional 6,700 shares during the quarter. Monarch Partners Asset Management LLC’s holdings in Ardmore Shipping were worth $378,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Dupont Capital Management Corp acquired a new position in shares of Ardmore Shipping in the 3rd quarter valued at $391,000. Rhumbline Advisers lifted its stake in shares of Ardmore Shipping by 5.8% in the 3rd quarter. Rhumbline Advisers now owns 49,725 shares of the shipping company’s stock valued at $333,000 after purchasing an additional 2,724 shares during the period. Campbell & CO Investment Adviser LLC lifted its stake in shares of Ardmore Shipping by 388.5% in the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 57,126 shares of the shipping company’s stock valued at $382,000 after purchasing an additional 45,432 shares during the period. Wolverine Trading LLC acquired a new position in shares of Ardmore Shipping in the 2nd quarter valued at $102,000. Finally, Verition Fund Management LLC acquired a new position in shares of Ardmore Shipping in the 2nd quarter valued at $467,000. 86.76% of the stock is currently owned by institutional investors.

Shares of ASC traded down $0.03 during trading hours on Friday, reaching $7.50. The stock had a trading volume of 339,321 shares, compared to its average volume of 216,224. The company has a quick ratio of 1.43, a current ratio of 1.59 and a debt-to-equity ratio of 1.21. Ardmore Shipping Corp has a 52 week low of $4.22 and a 52 week high of $9.79. The firm has a 50-day moving average of $7.98 and a 200 day moving average of $7.30. The company has a market cap of $272.39 million, a P/E ratio of -7.21 and a beta of 1.25.

Ardmore Shipping (NYSE:ASC) last released its quarterly earnings data on Tuesday, November 5th. The shipping company reported ($0.17) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.01. Ardmore Shipping had a negative net margin of 18.34% and a negative return on equity of 6.04%. The business had revenue of $52.10 million during the quarter, compared to analysts’ expectations of $29.98 million. During the same quarter in the prior year, the company earned ($0.37) EPS. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts expect that Ardmore Shipping Corp will post -0.12 earnings per share for the current year.

A number of research firms have recently weighed in on ASC. ValuEngine downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Ardmore Shipping from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Peel Hunt upgraded shares of Ardmore Shipping to an “add” rating in a research report on Friday, October 25th. Stifel Nicolaus cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating and upped their price objective for the company from $9.00 to $9.50 in a research report on Thursday, October 17th. Finally, Fearnley Fonds cut shares of Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $8.33.

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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