Algoma Steel Group Inc. $ASTL Shares Sold by Jump Financial LLC

Jump Financial LLC lessened its stake in Algoma Steel Group Inc. (NASDAQ:ASTL) by 9.9% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 18,778 shares of the company’s stock after selling 2,059 shares during the period. Jump Financial LLC’s holdings in Algoma Steel Group were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ASTL. Woodline Partners LP raised its holdings in Algoma Steel Group by 59.2% in the 4th quarter. Woodline Partners LP now owns 2,844,439 shares of the company’s stock worth $27,819,000 after purchasing an additional 1,057,517 shares during the period. Empyrean Capital Partners LP acquired a new position in Algoma Steel Group in the 4th quarter worth about $9,017,000. Nuveen LLC acquired a new position in Algoma Steel Group in the 1st quarter worth about $1,652,000. Heartland Advisors Inc. raised its holdings in Algoma Steel Group by 150.0% in the 1st quarter. Heartland Advisors Inc. now owns 500,000 shares of the company’s stock worth $2,710,000 after purchasing an additional 300,000 shares during the period. Finally, Intact Investment Management Inc. raised its holdings in Algoma Steel Group by 24.6% in the 1st quarter. Intact Investment Management Inc. now owns 1,463,761 shares of the company’s stock worth $7,945,000 after purchasing an additional 288,861 shares during the period. Institutional investors and hedge funds own 72.00% of the company’s stock.

Algoma Steel Group Price Performance

NASDAQ:ASTL opened at $5.13 on Friday. Algoma Steel Group Inc. has a 12 month low of $4.17 and a 12 month high of $12.14. The stock has a 50 day moving average of $5.69 and a two-hundred day moving average of $5.79. The company has a current ratio of 2.46, a quick ratio of 0.98 and a debt-to-equity ratio of 0.47. The firm has a market cap of $538.29 million, a P/E ratio of -2.30 and a beta of 1.62.

Algoma Steel Group (NASDAQ:ASTL) last posted its quarterly earnings data on Tuesday, July 29th. The company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.29). Algoma Steel Group had a negative return on equity of 22.24% and a negative net margin of 13.51%.The firm had revenue of $433.14 million for the quarter, compared to analysts’ expectations of $577.67 million. On average, analysts expect that Algoma Steel Group Inc. will post -0.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Algoma Steel Group from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. BMO Capital Markets cut Algoma Steel Group from a “strong-buy” rating to a “hold” rating in a report on Monday, June 2nd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.