American Century Companies Inc. lessened its stake in shares of Ardmore Shipping Corporation (NYSE:ASC) by 14.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,255,391 shares of the shipping company’s stock after selling 207,858 shares during the quarter. American Century Companies Inc. owned 3.74% of Ardmore Shipping Corporation worth $10,357,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Voya Investment Management LLC lifted its position in shares of Ardmore Shipping Corporation by 32.4% during the 2nd quarter. Voya Investment Management LLC now owns 14,753 shares of the shipping company’s stock worth $120,000 after buying an additional 3,614 shares during the period. American International Group Inc. lifted its position in shares of Ardmore Shipping Corporation by 33.3% during the 1st quarter. American International Group Inc. now owns 16,725 shares of the shipping company’s stock worth $135,000 after buying an additional 4,177 shares during the period. Alliancebernstein L.P. bought a new position in shares of Ardmore Shipping Corporation during the 2nd quarter worth approximately $155,000. Citadel Advisors LLC bought a new position in shares of Ardmore Shipping Corporation during the 2nd quarter worth approximately $174,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Ardmore Shipping Corporation by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,340 shares of the shipping company’s stock worth $255,000 after buying an additional 1,306 shares during the period. Institutional investors and hedge funds own 80.34% of the company’s stock.

Ardmore Shipping Corporation (NYSE ASC) opened at $8.65 on Friday. The company has a quick ratio of 1.41, a current ratio of 1.57 and a debt-to-equity ratio of 1.03. Ardmore Shipping Corporation has a 52-week low of $6.36 and a 52-week high of $9.05.

Ardmore Shipping Corporation (NYSE:ASC) last issued its quarterly earnings data on Wednesday, November 1st. The shipping company reported ($0.14) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.14). Ardmore Shipping Corporation had a negative return on equity of 3.08% and a negative net margin of 6.45%. The firm had revenue of $48.70 million during the quarter, compared to the consensus estimate of $29.99 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. equities research analysts predict that Ardmore Shipping Corporation will post -0.34 EPS for the current fiscal year.

Ardmore Shipping Corporation declared that its Board of Directors has initiated a stock buyback plan on Thursday, August 31st that allows the company to repurchase $25.00 million in shares. This repurchase authorization allows the shipping company to buy up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Several equities analysts recently commented on ASC shares. BidaskClub upgraded Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded Ardmore Shipping Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Stifel Nicolaus set a $10.00 target price on Ardmore Shipping Corporation and gave the stock a “buy” rating in a research report on Sunday, October 29th. ValuEngine upgraded Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Jefferies Group LLC restated a “buy” rating and set a $10.00 target price on shares of Ardmore Shipping Corporation in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $10.00.

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Ardmore Shipping Corporation Company Profile

Ardmore Shipping Corporation provides seaborne transportation of petroleum products and chemicals to national oil companies, oil and chemical traders, and chemical companies, with its fleet of mid-size product and chemical tankers. The Company’s segment relates to the operations of its vessels. The Company’s fleet consists of over 20 double-hulled product and chemical tankers, all of which are in operation.

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Institutional Ownership by Quarter for Ardmore Shipping Corporation (NYSE:ASC)

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