Trade Report: Today, Ashford Hospitality Prime Inc. (AHP) Upgrade to “Hold” by TheStreet

Today, Ashford Hospitality Prime Inc. (AHP) Upgrade to “Hold” by TheStreet

Ashford Hospitality Prime Inc. (NYSE:AHP) was upgraded by equities research analysts at TheStreet from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Several other equities research analysts have also recently weighed in on AHP. FBR & Co raised their price objective on shares of Ashford Hospitality Prime from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, July 22nd. Canaccord Genuity restated a “hold” rating and issued a $17.00 price objective on shares of Ashford Hospitality Prime in a research report on Sunday, August 7th. Finally, Zacks Investment Research upgraded shares of Ashford Hospitality Prime from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective for the company in a research report on Thursday, October 20th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Ashford Hospitality Prime presently has a consensus rating of “Hold” and a consensus price target of $14.29.

Ashford Hospitality Prime (NYSE:AHP) traded down 0.39% on Monday, reaching $12.61. 38,407 shares of the company’s stock traded hands. Ashford Hospitality Prime has a 52-week low of $8.37 and a 52-week high of $17.64. The stock’s 50 day moving average is $13.17 and its 200 day moving average is $13.88. The firm has a market cap of $327.47 million, a price-to-earnings ratio of 40.55 and a beta of 1.22.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KRV Capital LP purchased a new position in Ashford Hospitality Prime during the third quarter valued at $5,832,000. Foundry Partners LLC purchased a new position in Ashford Hospitality Prime during the second quarter valued at $3,428,000. Forward Management LLC raised its position in Ashford Hospitality Prime by 561.4% in the second quarter. Forward Management LLC now owns 231,500 shares of the company’s stock valued at $3,273,000 after buying an additional 196,500 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in Ashford Hospitality Prime during the second quarter valued at $2,394,000. Finally, JPMorgan Chase & Co. raised its position in Ashford Hospitality Prime by 14,821.6% in the third quarter. JPMorgan Chase & Co. now owns 133,250 shares of the company’s stock valued at $1,879,000 after buying an additional 132,357 shares during the last quarter. 83.85% of the stock is currently owned by institutional investors and hedge funds.

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