Ashford Capital Management Inc Lowers stake in Argan (AGX)

Argan (AGX) : Ashford Capital Management Inc reduced its stake in Argan by 1.21% during the most recent quarter end. The investment management company now holds a total of 724,340 shares of Argan which is valued at $33,689,053 after selling 8,900 shares in Argan , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Argan makes up approximately 6.83% of Ashford Capital Management Inc’s portfolio.

Other Hedge Funds, Including , Clark Capital Management Group boosted its stake in AGX in the latest quarter, The investment management firm added 2,404 additional shares and now holds a total of 16,642 shares of Argan which is valued at $774,019. Argan makes up approx 0.06% of Clark Capital Management Group’s portfolio.Ativo Capital Management boosted its stake in AGX in the latest quarter, The investment management firm added 13,800 additional shares and now holds a total of 30,665 shares of Argan which is valued at $1,426,229. Argan makes up approx 0.33% of Ativo Capital Management’s portfolio.Investment Management Of Virginia reduced its stake in AGX by selling 381 shares or 0.41% in the most recent quarter. The Hedge Fund company now holds 91,556 shares of AGX which is valued at $4,258,270. Argan makes up approx 1.03% of Investment Management Of Virginia’s portfolio.Blackrock Institutional Trust Company N.a. boosted its stake in AGX in the latest quarter, The investment management firm added 10,147 additional shares and now holds a total of 272,366 shares of Argan which is valued at $12,667,743.New York State Common Retirement Fund reduced its stake in AGX by selling 9,198 shares or 38.17% in the most recent quarter. The Hedge Fund company now holds 14,900 shares of AGX which is valued at $692,999.

Argan opened for trading at $47.81 and hit $48.27 on the upside on Thursday, eventually ending the session at $48.02, with a gain of 0.44% or 0.21 points. The heightened volatility saw the trading volume jump to 52,852 shares. Company has a market cap of $714 M.

Many Wall Street Analysts have commented on Argan. Lake Street Initiated Argan on Jun 9, 2016 to “Buy”, Price Target of the shares are set at $56.

Argan Inc. is a holding company. The Company conducts operations through its wholly owned subsidiaries Gemma Power Systems LLC and affiliates (GPS) and Southern Maryland Cable Inc. (SMC). The Company operates in two segments: power industry services and telecommunications infrastructure services. Through GPS the Company provides a range of development consulting engineering procurement construction commissioning operations and maintenance services to the power generation and renewable energy markets for a variety of customers including public utilities independent power project owners municipalities public institutions and private industry. Through SMC it provides telecommunications infrastructure services including project management construction and maintenance to the federal government local governments telecommunications and broadband service providers as well as electric utilities.

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