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

Walleye Capital LLC purchased a new stake in shares of Ardmore Shipping Co. (NYSE:ASC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 64,315 shares of the shipping company’s stock, valued at approximately $1,164,000. Walleye Capital LLC owned approximately 0.15% of Ardmore Shipping at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of Ardmore Shipping by 2.9% in the 3rd quarter. FMR LLC now owns 80,449 shares of the shipping company’s stock valued at $1,456,000 after acquiring an additional 2,252 shares in the last quarter. Quantbot Technologies LP grew its holdings in Ardmore Shipping by 33.0% during the third quarter. Quantbot Technologies LP now owns 69,338 shares of the shipping company’s stock valued at $1,255,000 after purchasing an additional 17,211 shares during the last quarter. Private Trust Co. NA bought a new position in shares of Ardmore Shipping in the third quarter valued at approximately $31,000. Algert Global LLC acquired a new stake in shares of Ardmore Shipping in the third quarter worth $427,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Ardmore Shipping by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 99,389 shares of the shipping company’s stock worth $1,799,000 after buying an additional 1,302 shares during the period. Institutional investors and hedge funds own 62.22% of the company’s stock.

Analyst Ratings Changes

ASC has been the topic of several recent analyst reports. Fearnley Fonds upgraded shares of Ardmore Shipping to a “hold” rating in a report on Friday, September 27th. Jefferies Financial Group dropped their price objective on Ardmore Shipping from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Stifel Nicolaus downgraded Ardmore Shipping from a “buy” rating to a “hold” rating and decreased their target price for the company from $24.00 to $17.00 in a research note on Wednesday, October 23rd. Finally, StockNews.com downgraded Ardmore Shipping from a “buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $20.00.

Ardmore Shipping Stock Performance

NYSE:ASC opened at $11.42 on Friday. The firm’s 50-day moving average is $14.40 and its 200-day moving average is $18.25. The company has a market cap of $477.60 million, a price-to-earnings ratio of 3.20 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. Ardmore Shipping Co. has a 52-week low of $10.86 and a 52-week high of $23.44.

Ardmore Shipping Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.72 annualized dividend and a yield of 6.31%. Ardmore Shipping’s dividend payout ratio (DPR) is 20.17%.

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.