Ardmore Shipping Co. (NYSE:ASC) Shares Purchased by Private Management Group Inc.

Private Management Group Inc. boosted its holdings in shares of Ardmore Shipping Co. (NYSE:ASC - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,204,828 shares of the shipping company's stock after buying an additional 168,731 shares during the quarter. Private Management Group Inc. owned 2.88% of Ardmore Shipping worth $14,639,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Ardmore Shipping by 261.1% in the fourth quarter. GAMMA Investing LLC now owns 2,116 shares of the shipping company's stock valued at $26,000 after purchasing an additional 1,530 shares during the period. Private Trust Co. NA acquired a new stake in Ardmore Shipping in the third quarter valued at approximately $31,000. Nisa Investment Advisors LLC lifted its stake in Ardmore Shipping by 2,906.0% in the third quarter. Nisa Investment Advisors LLC now owns 3,006 shares of the shipping company's stock worth $54,000 after acquiring an additional 2,906 shares during the last quarter. Quarry LP grew its holdings in Ardmore Shipping by 829.0% during the 3rd quarter. Quarry LP now owns 3,558 shares of the shipping company's stock worth $64,000 after acquiring an additional 3,175 shares in the last quarter. Finally, nVerses Capital LLC raised its holdings in shares of Ardmore Shipping by 166.7% in the 3rd quarter. nVerses Capital LLC now owns 5,600 shares of the shipping company's stock valued at $101,000 after purchasing an additional 3,500 shares in the last quarter. Institutional investors and hedge funds own 62.22% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ASC shares. Stifel Nicolaus lowered Ardmore Shipping from a "buy" rating to a "hold" rating and dropped their target price for the company from $24.00 to $17.00 in a report on Wednesday, October 23rd. Jefferies Financial Group lowered their price target on Ardmore Shipping from $20.00 to $17.00 and set a "buy" rating for the company in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.00.

Ardmore Shipping Stock Performance

Shares of Ardmore Shipping stock traded down $0.06 on Friday, hitting $11.58. The stock had a trading volume of 465,752 shares, compared to its average volume of 715,677. The company's 50 day moving average price is $11.88 and its 200 day moving average price is $15.06. The stock has a market cap of $484.51 million, a price-to-earnings ratio of 3.24 and a beta of 0.25. The company has a current ratio of 3.57, a quick ratio of 3.26 and a debt-to-equity ratio of 0.03. Ardmore Shipping Co. has a 52-week low of $10.86 and a 52-week high of $23.44.

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.