Murchinson Ltd. Has $1.74 Million Stock Position in Algoma Steel Group Inc. (NASDAQ:ASTL)

Murchinson Ltd. raised its holdings in shares of Algoma Steel Group Inc. (NASDAQ:ASTL – Get Rating) by 1,184.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 274,429 shares of the company’s stock after buying an additional 253,066 shares during the quarter. Algoma Steel Group comprises 0.2% of Murchinson Ltd.’s investment portfolio, making the stock its 21st largest holding. Murchinson Ltd. owned approximately 0.26% of Algoma Steel Group worth $1,740,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Toronto Dominion Bank raised its stake in Algoma Steel Group by 58.9% during the 4th quarter. Toronto Dominion Bank now owns 15,885 shares of the company’s stock valued at $100,000 after purchasing an additional 5,885 shares during the last quarter. Invesco Senior Secured Management Inc. ADV raised its position in shares of Algoma Steel Group by 15.7% during the third quarter. Invesco Senior Secured Management Inc. ADV now owns 2,806,214 shares of the company’s stock valued at $18,072,000 after buying an additional 380,000 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Algoma Steel Group in the third quarter valued at about $589,000. Philosophy Capital Management LLC grew its position in Algoma Steel Group by 19.5% during the third quarter. Philosophy Capital Management LLC now owns 2,977,861 shares of the company’s stock worth $19,177,000 after buying an additional 485,266 shares in the last quarter. Finally, CenterBook Partners LP increased its stake in Algoma Steel Group by 34.7% during the third quarter. CenterBook Partners LP now owns 111,368 shares of the company’s stock valued at $717,000 after acquiring an additional 28,692 shares during the period. 63.83% of the stock is owned by institutional investors.

Algoma Steel Group Price Performance

ASTL traded up $0.10 during midday trading on Friday, reaching $7.17. 123,307 shares of the company’s stock were exchanged, compared to its average volume of 1,041,320. The company has a quick ratio of 1.47, a current ratio of 3.67 and a debt-to-equity ratio of 0.07. The business has a 50-day simple moving average of $7.50 and a two-hundred day simple moving average of $7.23. The firm has a market capitalization of $742.60 million, a price-to-earnings ratio of 3.36 and a beta of 1.48. Algoma Steel Group Inc. has a one year low of $5.64 and a one year high of $10.06.

Analyst Upgrades and Downgrades

ASTL has been the subject of a number of research reports. TheStreet upgraded Algoma Steel Group from a “d+” rating to a “c-” rating in a research report on Thursday, April 13th. BMO Capital Markets raised their target price on Algoma Steel Group from C$11.00 to C$15.00 in a research report on Wednesday, February 15th.

Algoma Steel Group Profile

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Algoma Steel Group Inc produces and sells steel products primarily in North America. It provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.