Key Points
- President Bart Kelleher sold 8,000 shares on May 5 at an average price of $19.07 under a pre-arranged Rule 10b5-1 plan, receiving $152,560 and reducing his stake to 60,039 shares (an 11.76% decrease).
- Ardmore reported quarterly EPS of $0.58 and revenue of $87.92 million, both beating consensus estimates of $0.51 and $58.08 million respectively.
- Analysts view the stock as a Moderate Buy (average price target $17) with recent upgrades including Wall Street Zen and an Evercore $19 target, and institutional investors hold roughly 62% of the shares.
Ardmore Shipping Corporation (NYSE:ASC - Get Free Report) President Bart Kelleher sold 8,000 shares of the firm's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $19.07, for a total value of $152,560.00. Following the sale, the president owned 60,039 shares of the company's stock, valued at $1,144,943.73. This represents a 11.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Ardmore Shipping Stock Down 1.1%
Shares of Ardmore Shipping stock opened at $18.84 on Thursday. The business has a 50-day moving average of $15.77 and a 200-day moving average of $13.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.33 and a quick ratio of 3.98. The company has a market capitalization of $767.39 million, a PE ratio of 21.17 and a beta of 0.03. Ardmore Shipping Corporation has a 1-year low of $9.18 and a 1-year high of $19.20.
Ardmore Shipping (NYSE:ASC - Get Free Report) last announced its earnings results on Thursday, May 7th. The shipping company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.07. The company had revenue of $87.92 million during the quarter, compared to the consensus estimate of $58.08 million. Ardmore Shipping had a return on equity of 7.02% and a net margin of 13.22%.
Wall Street Analyst Weigh In
ASC has been the subject of several recent analyst reports. Wall Street Zen upgraded Ardmore Shipping from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. Evercore set a $19.00 price target on Ardmore Shipping in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $17.00.
Check Out Our Latest Stock Analysis on Ardmore Shipping
Hedge Funds Weigh In On Ardmore Shipping
A number of hedge funds have recently bought and sold shares of the company. Bleakley Financial Group LLC acquired a new position in Ardmore Shipping in the first quarter worth about $218,000. Hsbc Holdings PLC grew its stake in Ardmore Shipping by 13.5% in the first quarter. Hsbc Holdings PLC now owns 42,920 shares of the shipping company's stock worth $656,000 after purchasing an additional 5,093 shares in the last quarter. Y Intercept Hong Kong Ltd grew its stake in Ardmore Shipping by 28.0% in the first quarter. Y Intercept Hong Kong Ltd now owns 164,436 shares of the shipping company's stock worth $2,508,000 after purchasing an additional 35,923 shares in the last quarter. SmartHarvest Portfolios LLC grew its stake in Ardmore Shipping by 12.0% in the first quarter. SmartHarvest Portfolios LLC now owns 16,702 shares of the shipping company's stock worth $255,000 after purchasing an additional 1,796 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Ardmore Shipping in the first quarter worth about $407,000. 62.22% of the stock is currently owned by institutional investors and hedge funds.
About Ardmore Shipping
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Get Free Report)
Ardmore Shipping Corporation is a Bermuda-based provider of seaborne transportation services for refined petroleum products. The company owns and operates a modern fleet of product tankers, including medium-range (MR), long-range 2 (LR2) and Aframax vessels. Ardmore Shipping focuses on the ocean carriage of clean and dirty petroleum products under time charters, bareboat charters and spot voyages, serving a diverse customer base that includes major oil companies and trading houses.
Since its founding in 2005, Ardmore Shipping has grown its fleet through newbuilding contracts, second-hand acquisitions and fleet renewals, aiming to maintain a high quality, fuel-efficient profile.
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