Ardmore Shipping Co. (NYSE:ASC) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC reduced its stake in Ardmore Shipping Co. (NYSE:ASC) by 10.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,854 shares of the shipping company’s stock after selling 1,489 shares during the quarter. Voya Investment Management LLC’s holdings in Ardmore Shipping were worth $156,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in Ardmore Shipping by 255.4% during the 4th quarter. Victory Capital Management Inc. now owns 465,777 shares of the shipping company’s stock worth $5,659,000 after buying an additional 334,704 shares in the last quarter. Wellington Management Group LLP grew its position in Ardmore Shipping by 24.6% during the 4th quarter. Wellington Management Group LLP now owns 1,413,554 shares of the shipping company’s stock worth $17,175,000 after purchasing an additional 279,403 shares during the last quarter. Wells Fargo & Company MN grew its position in Ardmore Shipping by 34.7% during the 4th quarter. Wells Fargo & Company MN now owns 712,587 shares of the shipping company’s stock worth $8,658,000 after purchasing an additional 183,393 shares during the last quarter. Private Management Group Inc. grew its position in Ardmore Shipping by 16.3% during the 4th quarter. Private Management Group Inc. now owns 1,204,828 shares of the shipping company’s stock worth $14,639,000 after purchasing an additional 168,731 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Ardmore Shipping by 24.2% in the 4th quarter. Royce & Associates LP now owns 830,420 shares of the shipping company’s stock worth $10,090,000 after acquiring an additional 161,670 shares during the period. 62.22% of the stock is currently owned by institutional investors and hedge funds.

Ardmore Shipping Trading Up 1.4%

Shares of ASC stock opened at $9.96 on Thursday. The stock has a market cap of $404.62 million, a price-to-earnings ratio of 3.25 and a beta of -0.02. The company has a quick ratio of 3.86, a current ratio of 4.24 and a debt-to-equity ratio of 0.06. Ardmore Shipping Co. has a fifty-two week low of $8.32 and a fifty-two week high of $23.44. The firm’s 50 day moving average price is $9.56 and its two-hundred day moving average price is $10.96.

Ardmore Shipping (NYSE:ASC) last announced its quarterly earnings results on Wednesday, May 7th. The shipping company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Ardmore Shipping had a net margin of 32.78% and a return on equity of 20.48%. The business had revenue of $74.00 million for the quarter, compared to analyst estimates of $43.04 million. During the same period last year, the firm earned $0.92 earnings per share. The company’s quarterly revenue was down 30.4% on a year-over-year basis. On average, analysts anticipate that Ardmore Shipping Co. will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on ASC. Stifel Nicolaus reduced their target price on shares of Ardmore Shipping from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Jefferies Financial Group restated a “buy” rating and set a $17.00 target price on shares of Ardmore Shipping in a research report on Thursday, February 13th. Evercore ISI lowered their price target on shares of Ardmore Shipping from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, Fearnley Fonds upgraded shares of Ardmore Shipping from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 6th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Ardmore Shipping currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.67.

Ardmore Shipping Company Profile

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.