Ashford (AINC) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Ashford (NYSEAMERICAN:AINC) from a hold rating to a sell rating in a report published on Tuesday morning, 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. “

NYSEAMERICAN AINC opened at $53.59 on Tuesday. Ashford has a 12-month low of $46.30 and a 12-month high of $95.58.

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

A number of hedge funds have recently added to or reduced their stakes in AINC. Renaissance Technologies LLC boosted its stake in shares of Ashford by 19.4% in the 3rd quarter. Renaissance Technologies LLC now owns 20,114 shares of the financial services provider’s stock valued at $1,526,000 after purchasing an additional 3,268 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ashford by 11.9% in the 3rd quarter. Vanguard Group Inc. now owns 54,416 shares of the financial services provider’s stock valued at $4,128,000 after purchasing an additional 5,803 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Ashford in the 3rd quarter valued at $243,000. Vanguard Group Inc boosted its stake in shares of Ashford by 11.9% in the 3rd quarter. Vanguard Group Inc now owns 54,416 shares of the financial services provider’s stock valued at $4,128,000 after purchasing an additional 5,803 shares in the last quarter. Finally, LPL Financial LLC boosted its stake in shares of Ashford by 1.9% in the 4th quarter. LPL Financial LLC now owns 11,950 shares of the financial services provider’s stock valued at $620,000 after purchasing an additional 225 shares in the last quarter.

About Ashford

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.

Further Reading: Are all No-Load Funds Equal?

Get a free copy of the Zacks research report on Ashford (AINC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ashford Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ashford and related companies with MarketBeat.com's FREE daily email newsletter.