MMCAP International Inc. SPC decreased its position in Algoma Steel Group Inc. (NASDAQ:ASTL - Free Report) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,620,003 shares of the company's stock after selling 377,325 shares during the period. Algoma Steel Group comprises 10.0% of MMCAP International Inc. SPC's portfolio, making the stock its 2nd largest holding. MMCAP International Inc. SPC owned 6.31% of Algoma Steel Group worth $64,744,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Wexford Capital LP purchased a new stake in Algoma Steel Group during the third quarter worth about $107,000. DekaBank Deutsche Girozentrale boosted its holdings in Algoma Steel Group by 13.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company's stock worth $217,000 after buying an additional 2,481 shares in the last quarter. XTX Topco Ltd boosted its holdings in Algoma Steel Group by 132.8% during the third quarter. XTX Topco Ltd now owns 24,433 shares of the company's stock worth $250,000 after buying an additional 13,937 shares in the last quarter. Barclays PLC boosted its holdings in Algoma Steel Group by 147.1% during the third quarter. Barclays PLC now owns 25,711 shares of the company's stock worth $263,000 after buying an additional 15,305 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Algoma Steel Group by 831.9% during the third quarter. Quantbot Technologies LP now owns 28,375 shares of the company's stock worth $290,000 after buying an additional 25,330 shares in the last quarter. Hedge funds and other institutional investors own 72.00% of the company's stock.
Algoma Steel Group Price Performance
ASTL stock traded up $0.31 during trading on Friday, reaching $7.34. 933,894 shares of the company were exchanged, compared to its average volume of 571,676. Algoma Steel Group Inc. has a 52-week low of $6.67 and a 52-week high of $12.14. The company has a market cap of $769.85 million, a P/E ratio of -5.78 and a beta of 1.46. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.66 and a current ratio of 3.31. The stock's 50 day moving average price is $8.47 and its 200 day moving average price is $9.63.
About Algoma Steel Group
(
Free Report)
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.
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