Monarch Partners Asset Management LLC continued to hold its position in Ardmore Shipping Corporation (NYSE:ASC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,020 shares of the shipping company’s stock at the end of the second quarter. Monarch Partners Asset Management LLC’s holdings in Ardmore Shipping Corporation were worth $538,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in Ardmore Shipping Corporation during the first quarter valued at about $103,000. American International Group Inc. increased its position in Ardmore Shipping Corporation by 33.3% in the first quarter. American International Group Inc. now owns 16,725 shares of the shipping company’s stock valued at $135,000 after buying an additional 4,177 shares during the last quarter. Highbridge Capital Management LLC bought a new position in Ardmore Shipping Corporation during the first quarter valued at about $146,000. Nationwide Fund Advisors increased its position in Ardmore Shipping Corporation by 15.8% in the first quarter. Nationwide Fund Advisors now owns 20,423 shares of the shipping company’s stock valued at $164,000 after buying an additional 2,792 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in Ardmore Shipping Corporation by 51.4% in the fourth quarter. Teachers Advisors LLC now owns 61,240 shares of the shipping company’s stock valued at $453,000 after buying an additional 20,802 shares during the last quarter. Institutional investors own 76.35% of the company’s stock.

Shares of Ardmore Shipping Corporation (NYSE ASC) opened at 7.25 on Monday. The company has a 50-day moving average of $7.91 and a 200-day moving average of $7.59. Ardmore Shipping Corporation has a 1-year low of $5.00 and a 1-year high of $8.75. The company’s market cap is $243.42 million.

Ardmore Shipping Corporation (NYSE:ASC) last released its quarterly earnings results on Thursday, August 3rd. The shipping company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). Ardmore Shipping Corporation had a negative net margin of 6.92% and a negative return on equity of 2.35%. The business had revenue of $49.85 million for the quarter, compared to analyst estimates of $31.73 million. During the same period last year, the firm earned $0.18 earnings per share. Ardmore Shipping Corporation’s revenue for the quarter was up 25.5% compared to the same quarter last year. Equities analysts forecast that Ardmore Shipping Corporation will post ($0.17) EPS for the current year.

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Several research analysts have recently issued reports on ASC shares. Stifel Nicolaus restated a “buy” rating and set a $10.00 price objective on shares of Ardmore Shipping Corporation in a report on Friday, July 7th. Jefferies Group LLC reissued a “buy” rating and issued a $10.00 target price on shares of Ardmore Shipping Corporation in a research note on Tuesday, July 4th. TheStreet cut shares of Ardmore Shipping Corporation from a “c-” rating to a “d” rating in a research note on Wednesday, May 24th. ValuEngine raised shares of Ardmore Shipping Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 27th. Finally, BidaskClub cut shares of Ardmore Shipping Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Ardmore Shipping Corporation currently has a consensus rating of “Hold” and an average target price of $9.88.

About Ardmore Shipping Corporation

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.

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

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