Short Interest in Ashford Inc. (NYSEAMERICAN:AINC) Expands By 30.9%

Ashford Inc. (NYSEAMERICAN:AINC) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 18,200 shares, an increase of 30.9% from the August 15th total of 13,900 shares. Based on an average trading volume of 15,900 shares, the short-interest ratio is presently 1.1 days. Approximately 1.0% of the company’s shares are sold short.

A number of research firms have issued reports on AINC. Zacks Investment Research upgraded Ashford from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Tuesday, August 10th. B. Riley upped their price objective on shares of Ashford from $10.00 to $15.00 and gave the company a “neutral” rating in a report on Tuesday, August 3rd.

Large investors have recently modified their holdings of the stock. Clarus Group Inc. bought a new stake in shares of Ashford in the 1st quarter worth approximately $433,000. Renaissance Technologies LLC raised its holdings in shares of Ashford by 66.0% in the 1st quarter. Renaissance Technologies LLC now owns 104,628 shares of the financial services provider’s stock worth $928,000 after purchasing an additional 41,612 shares during the period. Citadel Advisors LLC bought a new stake in shares of Ashford in the 1st quarter worth approximately $96,000. State Street Corp bought a new stake in shares of Ashford in the 2nd quarter worth approximately $216,000. Finally, Geode Capital Management LLC increased its holdings in Ashford by 43.8% in the 2nd quarter. Geode Capital Management LLC now owns 15,084 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 4,596 shares during the last quarter. 11.73% of the stock is currently owned by institutional investors.

Shares of AINC stock traded up $0.71 during trading hours on Monday, reaching $14.52. The company had a trading volume of 51 shares, compared to its average volume of 32,294. Ashford has a 12 month low of $4.50 and a 12 month high of $28.27. The firm has a fifty day moving average of $6.07. The company has a market capitalization of $43.89 million, a P/E ratio of -0.47 and a beta of 2.63.

Ashford (NYSEAMERICAN:AINC) last announced its earnings results on Thursday, July 29th. The financial services provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.67. The company had revenue of $88.34 million during the quarter, compared to the consensus estimate of $64.30 million. Ashford had a negative net margin of 15.03% and a negative return on equity of 10.93%. As a group, research analysts predict that Ashford will post 1.63 EPS for the current year.

Ashford Company Profile

Ashford, Inc engages in the provision of asset management, advisory services and other products and services primarily to clients in the hospitality industry. The firm operates through following business segments: REIT Advisory, Remington, Premier, JSAV, OpenKey, and Corporate & Other. The REIT Advisory segment provides asset management and advisory services to other entities.

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