StockNews.com Begins Coverage on Ashford (NYSE:AINC)

Equities research analysts at StockNews.com initiated coverage on shares of Ashford (NYSE:AINC) in a research note issued to investors on Friday. The brokerage set a “hold” rating on the stock.

Ashford Price Performance

AINC stock opened at $4.97 on Friday. The company has a 50 day moving average price of $4.87. The company has a market capitalization of $17.10 million, a price-to-earnings ratio of -0.38 and a beta of 1.32. Ashford has a 12 month low of $1.91 and a 12 month high of $9.50.

Institutional Investors Weigh In On Ashford

A hedge fund recently raised its stake in Ashford stock. Renaissance Technologies LLC raised its holdings in Ashford Inc. (NYSE:AINC) by 50.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,553 shares of the company’s stock after acquiring an additional 26,000 shares during the period. Renaissance Technologies LLC owned approximately 2.25% of Ashford worth $381,000 at the end of the most recent reporting period. Institutional investors own 13.32% of the company’s stock.

About Ashford

Ashford, Inc is an asset management firm. The firm provides investment management and related services to the real estate and hospitality sectors. Ashford, Inc was formed on April 2, 2014 and is based in Dallas, Texas. Ashford Inc(NYSEAM:AINC) operates independently of Ashford Hospitality Trust, Inc as of November 5, 2019.