Zacks Investment Research cut shares of Ashford Inc (NYSEMKT:AINC) from a buy rating to a hold rating in a report issued on Tuesday.

According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “

Separately, FBR & Co boosted their price target on Ashford from $63.00 to $67.00 and gave the stock an outperform rating in a research note on Tuesday, August 8th.

Shares of Ashford (AINC) opened at 65.96 on Tuesday. The company’s market cap is $133.31 million. Ashford has a one year low of $38.10 and a one year high of $68.00. The stock’s 50 day moving average is $60.01 and its 200-day moving average is $54.94.

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An institutional investor recently bought a new position in Ashford stock. Clear Harbor Asset Management LLC bought a new position in shares of Ashford Inc (NYSEMKT:AINC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,212 shares of the financial services provider’s stock, valued at approximately $452,000. Clear Harbor Asset Management LLC owned 0.46% of Ashford as of its most recent SEC filing.

Ashford Company Profile

Ashford Inc provides asset management and advisory services to other entities, primarily within the hospitality industry. The Company operates in the segment of asset and investment management, which includes managing the day-to-day operations of Ashford Hospitality Prime, Inc (Ashford Prime) and its subsidiaries.

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