Paradigm Capital Management Inc. NY maintained its stake in Ardmore Shipping Corporation (NYSE:ASC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,100 shares of the shipping company’s stock at the end of the 2nd quarter. Paradigm Capital Management Inc. NY owned approximately 0.38% of Ardmore Shipping Corporation worth $1,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Royce & Associates LP boosted its stake in shares of Ardmore Shipping Corporation by 9.4% in the second quarter. Royce & Associates LP now owns 1,713,575 shares of the shipping company’s stock worth $13,966,000 after buying an additional 147,900 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Ardmore Shipping Corporation by 2.9% in the second quarter. American Century Companies Inc. now owns 1,463,249 shares of the shipping company’s stock worth $11,925,000 after buying an additional 40,871 shares during the last quarter. Eagle Boston Investment Management Inc. boosted its stake in shares of Ardmore Shipping Corporation by 12.8% in the second quarter. Eagle Boston Investment Management Inc. now owns 1,025,267 shares of the shipping company’s stock worth $8,355,000 after buying an additional 116,500 shares during the last quarter. Boston Partners boosted its stake in shares of Ardmore Shipping Corporation by 5.7% in the first quarter. Boston Partners now owns 941,138 shares of the shipping company’s stock worth $7,576,000 after buying an additional 51,050 shares during the last quarter. Finally, Van Den Berg Management I Inc. boosted its stake in shares of Ardmore Shipping Corporation by 149.7% in the first quarter. Van Den Berg Management I Inc. now owns 879,941 shares of the shipping company’s stock worth $7,084,000 after buying an additional 527,488 shares during the last quarter. Hedge funds and other institutional investors own 76.51% of the company’s stock.

Shares of Ardmore Shipping Corporation (NYSE:ASC) traded up 1.34% during trading on Wednesday, hitting $7.55. The company’s stock had a trading volume of 1,688 shares. The company has a 50-day moving average price of $7.67 and a 200-day moving average price of $7.66. Ardmore Shipping Corporation has a one year low of $5.00 and a one year high of $8.75. The stock’s market cap is $253.49 million.

Ardmore Shipping Corporation (NYSE:ASC) last announced its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.06) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $49.85 million for the quarter, compared to analyst estimates of $31.73 million. Ardmore Shipping Corporation had a negative return on equity of 2.35% and a negative net margin of 6.92%. The company’s quarterly revenue was up 25.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 EPS. Equities analysts predict that Ardmore Shipping Corporation will post ($0.14) EPS for the current fiscal year.

Ardmore Shipping Corporation announced that its Board of Directors has approved a stock buyback program on Thursday, August 31st that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the shipping company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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A number of analysts have recently commented on the company. Zacks Investment Research upgraded Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. BidaskClub upgraded Ardmore Shipping Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, August 18th. Jefferies Group LLC restated a “buy” rating and issued a $10.00 target price on shares of Ardmore Shipping Corporation in a research note on Tuesday. ValuEngine cut Ardmore Shipping Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $10.00 price target on shares of Ardmore Shipping Corporation in a report on Friday, July 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $10.50.

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.

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

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