Walleye Capital LLC Makes New $1.16 Million Investment in Ardmore Shipping Co. (NYSE:ASC)

Walleye Capital LLC acquired a new position in Ardmore Shipping Co. (NYSE:ASC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 64,315 shares of the shipping company's stock, valued at approximately $1,164,000. Walleye Capital LLC owned 0.15% of Ardmore Shipping as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ASC. Vanguard Group Inc. grew its stake in shares of Ardmore Shipping by 51.0% during the 1st quarter. Vanguard Group Inc. now owns 541,103 shares of the shipping company's stock worth $8,885,000 after acquiring an additional 182,650 shares during the period. Victory Capital Management Inc. increased its stake in shares of Ardmore Shipping by 58.9% in the third quarter. Victory Capital Management Inc. now owns 131,073 shares of the shipping company's stock worth $2,372,000 after purchasing an additional 48,598 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Ardmore Shipping by 82.7% in the second quarter. SG Americas Securities LLC now owns 241,455 shares of the shipping company's stock valued at $5,440,000 after purchasing an additional 109,312 shares during the period. American Century Companies Inc. raised its position in shares of Ardmore Shipping by 27.4% in the second quarter. American Century Companies Inc. now owns 1,124,835 shares of the shipping company's stock valued at $25,343,000 after purchasing an additional 241,748 shares during the period. Finally, Foundry Partners LLC boosted its holdings in Ardmore Shipping by 217.5% in the 3rd quarter. Foundry Partners LLC now owns 565,300 shares of the shipping company's stock worth $10,232,000 after buying an additional 387,240 shares during the period. 62.22% of the stock is currently owned by hedge funds and other institutional investors.

Ardmore Shipping Price Performance

Ardmore Shipping stock traded down $0.07 during midday trading on Friday, hitting $11.33. 1,365,228 shares of the company's stock were exchanged, compared to its average volume of 673,179. The company has a market cap of $474.05 million, a P/E ratio of 3.17 and a beta of 0.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.26 and a current ratio of 3.57. The stock has a 50-day moving average price of $14.26 and a two-hundred day moving average price of $18.17. Ardmore Shipping Co. has a 52-week low of $10.86 and a 52-week high of $23.44.

Ardmore Shipping Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 6.35%. The ex-dividend date of this dividend is Friday, November 29th. Ardmore Shipping's dividend payout ratio is currently 20.17%.

Wall Street Analyst Weigh In

ASC has been the topic of a number of analyst reports. Stifel Nicolaus downgraded Ardmore Shipping from a "buy" rating to a "hold" rating and dropped their target price for the stock from $24.00 to $17.00 in a research report on Wednesday, October 23rd. Fearnley Fonds raised Ardmore Shipping to a "hold" rating in a report on Friday, September 27th. StockNews.com downgraded Ardmore Shipping from a "buy" rating to a "hold" rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group lowered their price target on shares of Ardmore Shipping from $20.00 to $17.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $20.00.

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.