Ashford Inc (NYSEAMERICAN:AINC) Sees Significant Growth in Short Interest

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Ashford Inc (NYSEAMERICAN:AINC) saw a large growth in short interest in the month of July. As of July 31st, there was short interest totalling 66,200 shares, a growth of 9.2% from the June 30th total of 60,600 shares. Approximately 5.7% of the shares of the company are sold short. Based on an average daily volume of 14,300 shares, the short-interest ratio is currently 4.6 days.

Shares of Ashford stock opened at $27.07 on Friday. Ashford has a fifty-two week low of $25.77 and a fifty-two week high of $95.58.

Ashford (NYSEAMERICAN:AINC) last issued its earnings results on Thursday, August 1st. The financial services provider reported $2.04 earnings per share for the quarter, missing the consensus estimate of $2.38 by ($0.34). The company had revenue of $63.47 million during the quarter, compared to analyst estimates of $62.77 million.

A number of research firms recently weighed in on AINC. B. Riley lowered their price target on Ashford from $74.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Zacks Investment Research cut Ashford from a “hold” rating to a “sell” rating in a report on Wednesday, August 7th. Finally, TheStreet cut Ashford from a “c-” rating to a “d” rating in a report on Friday, August 2nd.

In other news, COO Jeremy Welter purchased 15,000 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $29.46 per share, for a total transaction of $441,900.00. Following the acquisition, the chief operating officer now directly owns 21,775 shares in the company, valued at approximately $641,491.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider J Robison Hays III purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average price of $43.42 per share, for a total transaction of $217,100.00. Following the acquisition, the insider now owns 15,000 shares in the company, valued at $651,300. The disclosure for this purchase can be found here.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in Ashford by 503.3% in the second quarter. Tower Research Capital LLC TRC now owns 2,540 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 2,119 shares during the period. O Brien Greene & Co. Inc raised its position in Ashford by 18.7% in the first quarter. O Brien Greene & Co. Inc now owns 9,511 shares of the financial services provider’s stock valued at $528,000 after purchasing an additional 1,500 shares during the period. Geode Capital Management LLC raised its position in Ashford by 8.9% in the fourth quarter. Geode Capital Management LLC now owns 10,562 shares of the financial services provider’s stock valued at $548,000 after purchasing an additional 864 shares during the period. Arbor Wealth Management LLC purchased a new position in Ashford in the second quarter valued at about $360,000. Finally, LPL Financial LLC raised its position in Ashford by 3.4% in the second quarter. LPL Financial LLC now owns 11,595 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 380 shares during the period.

Ashford Company Profile

Ashford, Inc is an asset management firm. The firm provides investment management and related services to the real estate and hospitality sectors. Ashford, Inc was formed on April 2, 2014 and is based in Dallas, Texas.

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