Signia Capital Management Lowers stake in Ardmore Shipping Corp (ASC)

Ardmore Shipping Corp (ASC) : Signia Capital Management reduced its stake in Ardmore Shipping Corp by 0.97% during the most recent quarter end. The investment management company now holds a total of 100,409 shares of Ardmore Shipping Corp which is valued at $812,309 after selling 987 shares in Ardmore Shipping Corp , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Ardmore Shipping Corp makes up approximately 2.39% of Signia Capital Management’s portfolio.

Other Hedge Funds, Including , Spot Trading L.l.c added ASC to its portfolio by purchasing 19,776 company shares during the most recent quarter which is valued at $159,988. Ardmore Shipping Corp makes up approx 0.02% of Spot Trading L.l.c’s portfolio. Advisory Services Network added ASC to its portfolio by purchasing 106 company shares during the most recent quarter which is valued at $726.American Century Companies Inc boosted its stake in ASC in the latest quarter, The investment management firm added 105,030 additional shares and now holds a total of 1,165,916 shares of Ardmore Shipping Corp which is valued at $7,986,525. Ardmore Shipping Corp makes up approx 0.01% of American Century Companies Inc’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in ASC in the latest quarter, The investment management firm added 695 additional shares and now holds a total of 855 shares of Ardmore Shipping Corp which is valued at $6,071.

Ardmore Shipping Corp closed down -0.15 points or -1.84% at $8.01 with 3,88,764 shares getting traded on Monday. Post opening the session at $8.2, the shares hit an intraday low of $7.99 and an intraday high of $8.3698 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Ardmore Shipping Corp reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.14. The company had revenue of $39.72 million for the quarter, compared to analysts expectations of $32.55 million. The company’s revenue was up 1.0% compared to the same quarter last year.

Ardmore Shipping Corporation (Ardmore) provides seaborne transportation of petroleum products and chemicals to oil companies national oil companies oil and chemical traders and chemical companies with its fleet of mid-size product and chemical tankers. As of December 31 2014 Ardmore had 14 vessels in operation and 10 vessels under construction. The Company’s vessels include Ardmore Seavaliant Ardmore Seaventure Ardmore Endeavour Ardmore Seafarer Ardmore Centurion and Ardmore Capella among others. Ardmore has 32 wholly owned subsidiaries which represent single ship-owning companies for the Company’s fleet. Ardmore Shipping (Bermuda) Limited (ASBL) carries out the Ardmore’s management services and functions. Ardmore Shipping Services (Ireland) Limited (ASSIL) which is a subsidiary incorporated in Ireland provides the Company’s corporate accounting and fleet administration services.

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