Ashford (NYSE:AINC) Coverage Initiated at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Ashford (NYSE:AINC) in a note issued to investors on Wednesday. The firm set a “hold” rating on the stock.

Ashford Stock Performance

Shares of AINC stock opened at $4.97 on Wednesday. The business’s fifty day moving average is $3.88. The firm has a market cap of $17.10 million, a price-to-earnings ratio of -0.38 and a beta of 1.32. Ashford has a 1-year low of $1.91 and a 1-year high of $9.50.

Institutional Investors Weigh In On Ashford

A hedge fund recently raised its stake in Ashford stock. Renaissance Technologies LLC raised its holdings in shares of Ashford Inc. (NYSE:AINC) by 50.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,553 shares of the company’s stock after purchasing an additional 26,000 shares during the period. Renaissance Technologies LLC owned about 2.25% of Ashford worth $381,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.32% of the company’s stock.

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. Ashford Inc(NYSEAM:AINC) operates independently of Ashford Hospitality Trust, Inc as of November 5, 2019.