Ashford Hospitality Prime Inc. (AHP) Sees Large Drop in Short Interest
Ashford Hospitality Prime Inc. (NYSE:AHP) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 553,958 shares, a decrease of 39.5% from the October 14th total of 915,569 shares. Currently, 2.4% of the shares of the stock are short sold. Based on an average trading volume of 156,661 shares, the short-interest ratio is currently 3.5 days.
Hedge funds have recently modified their holdings of the stock. BlackRock Investment Management LLC increased its position in Ashford Hospitality Prime by 7.2% in the second quarter. BlackRock Investment Management LLC now owns 118,026 shares of the company’s stock valued at $1,669,000 after buying an additional 7,898 shares during the period. Prudential Financial Inc. increased its position in Ashford Hospitality Prime by 25.7% in the second quarter. Prudential Financial Inc. now owns 86,386 shares of the company’s stock valued at $1,221,000 after buying an additional 17,637 shares during the period. Dimensional Fund Advisors LP increased its position in Ashford Hospitality Prime by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 399,054 shares of the company’s stock valued at $5,642,000 after buying an additional 18,793 shares during the period. Ameriprise Financial Inc. purchased a new position in Ashford Hospitality Prime during the second quarter valued at $2,394,000. Finally, First Trust Advisors LP purchased a new position in Ashford Hospitality Prime during the second quarter valued at $144,000. 83.85% of the stock is currently owned by institutional investors.
Several equities analysts have recently weighed in on AHP shares. Canaccord Genuity reissued a “hold” rating and set a $17.00 target price on shares of Ashford Hospitality Prime in a research report on Sunday, August 7th. FBR & Co cut their target price on Ashford Hospitality Prime from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Zacks Investment Research raised Ashford Hospitality Prime from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Thursday, October 20th. Finally, TheStreet raised Ashford Hospitality Prime from a “sell” rating to a “hold” rating in a research report on Monday, November 7th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.29.
Ashford Hospitality Prime (NYSE:AHP) opened at 12.66 on Thursday. Ashford Hospitality Prime has a 12 month low of $8.37 and a 12 month high of $17.64. The company has a market cap of $328.77 million, a P/E ratio of 40.71 and a beta of 1.22. The firm has a 50-day moving average price of $13.17 and a 200 day moving average price of $13.88.
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About Ashford Hospitality Prime
Ashford Hospitality Prime, Inc invests in high revenue per available room (RevPAR), luxury, upper-upscale and upscale hotels in gateway and resort locations. The Company conducts its business and owns all of its assets through its operating partnership, Ashford Hospitality Prime Limited Partnership. It operates in the direct hotel investment segment of the hotel lodging industry.
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