Ashford Inc [AMEX: AINC] jumped around 2.53 points on Tuesday, while shares priced at $4.75 at the close of the session, up 113.96%. The company report on April 1, 2024 at 10:55 PM that ASHFORD INC.’S BOARD OF DIRECTORS APPROVES PLAN TO TERMINATE REGISTRATION OF ITS COMMON STOCK.
Ashford Inc. (NYSE American: AINC) (“Ashford” or the “Company”) today announced that a Special Committee of independent and disinterested directors has recommended, and its Board of Directors has approved, a plan to terminate the registration of the Company’s common stock under the federal securities laws following the completion of a proposed reverse stock split transaction (the “Reverse Stock Split”) immediately followed by a forward stock split transaction and to delist its shares of common stock from trading on the NYSE American LLC (the “NYSE American”) (the “Proposed Transaction”). It is expected that this plan would be initiated in the summer of 2024, subject to Ashford’s stockholders approving the Proposed Transaction at a Special Meeting of Stockholders to be held for that purpose, as described below.
Ashford is taking these steps to avoid the substantial cost and expense of being a public reporting company and to focus the Company’s resources on enhancing long-term stockholder value. The Company anticipates savings exceeding $2,500,000 on an annual basis as a result of the Proposed Transaction.
Compared to the average trading volume of 9.02K shares, AINC reached a trading volume of 19076590 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Ashford Inc [AINC]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AINC shares is $14.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AINC stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Oppenheimer have made an estimate for Ashford Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on June 14, 2022. While these analysts kept the previous recommendation, B. Riley FBR dropped their target price from $42 to $10. The new note on the price target was released on April 06, 2020, representing the official price target for Ashford Inc stock. Previously, the target price had yet another raise to $87, while Janney analysts kept a Buy rating on AINC stock. On October 11, 2018, analysts decreased their price target for AINC shares from 95 to 91.
The Average True Range (ATR) for Ashford Inc is set at 0.43, with the Price to Sales ratio for AINC stock in the period of the last 12 months amounting to 0.02.
How has AINC stock performed recently?
Ashford Inc [AINC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 111.11. With this latest performance, AINC shares gained by 49.84% in over the last four-week period, additionally sinking by -35.11% over the last 6 months – not to mention a drop of -63.74% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AINC stock in for the last two-week period is set at 78.45, with the RSI for the last a single of trading hit 85.81, and the three-weeks RSI is set at 72.05 for Ashford Inc [AINC]. The present Moving Average for the last 50 days of trading for this stock 2.59, while it was recorded at 2.75 for the last single week of trading, and 6.08 for the last 200 days.
Ashford Inc [AINC]: Deeper insight into the fundamentals
Ashford Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.02 and a Current Ratio set at 1.04.
Earnings analysis for Ashford Inc [AINC]
With the latest financial reports released by the company, Ashford Inc posted 1.65/share EPS, while the average EPS was predicted by analysts to be reported at 1.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 42.20%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AINC.
Insider trade positions for Ashford Inc [AINC]
The top three institutional holders of AINC stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in AINC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in AINC stock with ownership which is approximately 5.8386%.
