Ashford (NYSEAMERICAN:AINC) Upgraded by Zacks Investment Research to “Hold”

Ashford (NYSEAMERICAN:AINC) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports.

According to Zacks, “Ashford Inc. is a provider of asset management and other services to companies within the hospitality industry. It is focused on managing real estate, hospitality, and securities platforms. The Company serves as the advisor to two real estate investment trusts, namely Ashford Hospitality Trust (Ashford Trust) and Ashford Hospitality Prime (Ashford Prime). Ashford Trust is focused on investing in the hospitality industry primarily within the United States. Ashford Prime invests in high RevPAR full-service and urban select-service hotels and resorts. Ashford Inc. is based in Dallas, Texas. “

Shares of AINC stock traded down $0.88 on Wednesday, hitting $30.88. 102 shares of the company’s stock traded hands, compared to its average volume of 6,818. Ashford has a one year low of $31.10 and a one year high of $95.58.

Ashford (NYSEAMERICAN:AINC) last released its earnings results on Thursday, May 2nd. The financial services provider reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.63 by $0.16. The business had revenue of $63.32 million for the quarter, compared to the consensus estimate of $57.13 million.

In other news, insider J Robison Hays III purchased 5,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were acquired at an average price of $43.42 per share, with a total value of $217,100.00. Following the acquisition, the insider now directly owns 15,000 shares in the company, valued at $651,300. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional investors have recently made changes to their positions in the business. Glacier Peak Capital LLC lifted its position in Ashford by 22.7% during the 4th quarter. Glacier Peak Capital LLC now owns 69,411 shares of the financial services provider’s stock valued at $3,602,000 after acquiring an additional 12,841 shares during the period. Vanguard Group Inc. raised its holdings in Ashford by 11.9% in the third quarter. Vanguard Group Inc. now owns 54,416 shares of the financial services provider’s stock worth $4,128,000 after buying an additional 5,803 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in Ashford in the fourth quarter worth about $798,000. Northern Trust Corp raised its holdings in Ashford by 1.5% in the fourth quarter. Northern Trust Corp now owns 12,800 shares of the financial services provider’s stock worth $664,000 after buying an additional 188 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in Ashford by 1.9% in the fourth quarter. LPL Financial LLC now owns 11,950 shares of the financial services provider’s stock worth $620,000 after buying an additional 225 shares during the last quarter.

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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