GAMMA Investing LLC Has $61,000 Stock Holdings in Ardmore Shipping Corporation $ASC

GAMMA Investing LLC grew its stake in shares of Ardmore Shipping Corporation (NYSE:ASC) by 288.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,310 shares of the shipping company’s stock after purchasing an additional 4,684 shares during the period. GAMMA Investing LLC’s holdings in Ardmore Shipping were worth $61,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Hsbc Holdings PLC raised its holdings in shares of Ardmore Shipping by 6.3% during the first quarter. Hsbc Holdings PLC now owns 17,263 shares of the shipping company’s stock valued at $173,000 after purchasing an additional 1,024 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Ardmore Shipping by 3.1% during the first quarter. Principal Financial Group Inc. now owns 35,458 shares of the shipping company’s stock valued at $347,000 after purchasing an additional 1,060 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ardmore Shipping by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,701 shares of the shipping company’s stock valued at $242,000 after purchasing an additional 1,102 shares during the period. SummerHaven Investment Management LLC raised its holdings in shares of Ardmore Shipping by 3.2% during the first quarter. SummerHaven Investment Management LLC now owns 39,202 shares of the shipping company’s stock valued at $384,000 after purchasing an additional 1,212 shares during the period. Finally, Pinnacle Holdings LLC acquired a new position in shares of Ardmore Shipping during the first quarter valued at about $27,000. Institutional investors and hedge funds own 62.22% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ASC shares. Jefferies Financial Group restated a “buy” rating and issued a $14.00 target price on shares of Ardmore Shipping in a report on Wednesday, July 30th. Zacks Research lowered shares of Ardmore Shipping from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Evercore ISI set a $13.00 target price on shares of Ardmore Shipping in a report on Wednesday, July 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ardmore Shipping in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $12.67.

Ardmore Shipping Stock Up 1.4%

Ardmore Shipping stock opened at $12.07 on Friday. Ardmore Shipping Corporation has a twelve month low of $8.32 and a twelve month high of $18.79. The firm has a 50 day moving average price of $11.63 and a 200-day moving average price of $10.41. The company has a market capitalization of $490.13 million, a P/E ratio of 11.71 and a beta of 0.09. The company has a quick ratio of 3.56, a current ratio of 3.88 and a debt-to-equity ratio of 0.04.

Ardmore Shipping (NYSE:ASC) last released its earnings results on Wednesday, July 30th. The shipping company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.04. Ardmore Shipping had a net margin of 14.48% and a return on equity of 8.46%. The firm had revenue of $72.05 million during the quarter, compared to the consensus estimate of $44.92 million. During the same period in the prior year, the firm earned $1.14 EPS. The company’s revenue was down 40.6% compared to the same quarter last year. As a group, equities analysts predict that Ardmore Shipping Corporation will post 1.06 EPS for the current year.

Ardmore Shipping Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Friday, August 29th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from Ardmore Shipping’s previous quarterly dividend of $0.05. Ardmore Shipping’s payout ratio is currently 27.18%.

About Ardmore Shipping

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.