B. Riley Trims Ashford (NYSEAMERICAN:AINC) Target Price to $59.00

Ashford (NYSEAMERICAN:AINC) had its target price decreased by stock analysts at B. Riley from $74.00 to $59.00 in a note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. B. Riley’s target price points to a potential upside of 78.79% from the company’s current price.

Separately, Zacks Investment Research raised Ashford from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 26th.

NYSEAMERICAN:AINC traded up $0.15 during trading hours on Monday, reaching $33.00. 11,466 shares of the company were exchanged, compared to its average volume of 8,955. Ashford has a 1-year low of $25.77 and a 1-year high of $95.58.

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

In other news, insider J Robison Hays III bought 5,000 shares of Ashford stock in a transaction dated Wednesday, June 5th. The stock was bought at an average cost of $43.42 per share, for a total transaction of $217,100.00. Following the purchase, the insider now directly owns 15,000 shares in the company, valued at approximately $651,300. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Several institutional investors and hedge funds have recently modified their holdings of AINC. Dimensional Fund Advisors LP acquired a new position in Ashford during the 4th quarter valued at about $798,000. Northern Trust Corp boosted its stake in Ashford by 1.5% during the 4th quarter. Northern Trust Corp now owns 12,800 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 188 shares during the last quarter. Arbor Wealth Management LLC acquired a new position in Ashford during the 2nd quarter valued at about $360,000. Geode Capital Management LLC boosted its stake in Ashford by 8.9% during the 4th 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 last quarter. Finally, O Brien Greene & Co. Inc boosted its stake in Ashford by 18.7% during the 1st 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 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.

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