The New William C. Martin’s Raging Capital Management Holding in Ashford Hospitality Prime, Inc
Raging Capital Management filed with the SEC SC 13D form for Ashford Hospitality Prime, Inc. The form can be accessed here: 000092189516005834. As reported in William C. Martin’s Raging Capital Management’s form, the filler as of late owns 7.9% or 2,019,442 shares of the Finance–company.
Ashford Hospitality Prime, Inc stake is a new one for the for the hedge fund and it was filed because of activity on October 4, 2016. We feel this shows William C. Martin’s Raging Capital Management’s positive view for the stock. For a hedge fund managing $631.31 million in assets and having 7+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of William C. Martin’s Raging Capital Management’s US equities portfolio is in this sector.
Reasons Why William C. Martin’s Raging Capital Management Bought – Ashford Hospitality Prime, Inc Stock
Purpose of Transaction
The Reporting Persons purchased the securities of the Issuer reported herein based on the Reporting Persons’ belief that such securities, when purchased, were undervalued and represented an attractive investment opportunity.Depending upon overall market conditions, other investment opportunities available to the Reporting Persons, and the availability of securities of the Issuer at prices that would make the purchase or sale of securities of the Issuer desirable, the Reporting Persons may endeavor to increase or decrease their position in the Issuer through, among other things, the purchase or sale of securities of the Issuer on the open market or in private transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable.
On October 4, 2016, representatives of Raging Capital met with members of management and the Board of the Issuer to discuss various matters relating to the Issuer, including, but not limited to its business operations and ways to enhance shareholder value.Raging Capital intends to continue to have discussions with management and the Board of the Issuer regarding these matters.
No Reporting Person has any present plan or proposal which would relate to or result in any of the matters set forth in subparagraphs (a) – (j) of Item 4 of Schedule 13D except as set forth herein or such as would occur upon completion of any of the actions discussed herein.The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may from time to time engage in additional discussions with management and the Board.Depending on various factors including, without limitation, the Issuer’s financial position and investment strategy, the price levels of the securities of the Issuer, conditions in the securities markets and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, making proposals to or concerning the Issuer, purchasing additional securities of the Issuer, selling some or all of their securities of the Issuer, engaging in short selling of or any hedging or similar transaction with respect to the securities of the Issuer, or change their intention with respect to any and all matters referred to in Item 4.
Ashford Hospitality Prime, Inc Institutional Sentiment
Latest Security and Exchange filings show 126 investors own Ashford Hospitality Prime, Inc. The institutional ownership in Q3 2015 is high, at 60.77% of the outstanding shares. This is increased by 44916623 the total institutional shares. 64620488 were the shares owned by these institutional investors. In total 28 funds opened new Ashford Hospitality Prime, Inc stakes, 81 increased stakes. There were 16 that closed positions and 16 reduced them.
2 managers had the stock in their top Ten. Notable investors are: Gratia Capital Llc, Sessa Capital Im L.P., Weiss Multi-Strategy Advisers Llc..
Globeflex Capital L P is an institutional investor bullish on Ashford Hospitality Prime, Inc, owning 218626 shares as of Q3 2015 for 0.66% of its portfolio. Steve Pei Gratia Capital Llc owns 731245 shares or 1.77% of its portfolio. CT Sorin Capital Management Llc have 0.14% of their stock portfolio for 121093 shares. Further, Pacific Alternative Asset Management Company Llc reported stake worth 1.80% of its US stock portfolio. The NY Sessa Capital Im Lp owns 2060207 shares. Ashford Hospitality Prime, Inc is 11.29% of the manager’s US portfolio.
Allied Hotel Properties Inc. is a Canada-based company, which is engaged in the ownership, management and development of hotels and real estate in Canada. The Company’s business activities include hotel and real estate acquisition, holding, development and management. The Company owns and operates the Toronto Don Valley Hotel and Suites hotel, which is located in Toronto, Ontario (the Toronto Hotel Property). The Toronto Hotel Property consists of approximately 350 rooms. The Company subdivided the hotel lands to permit the development of a condominium tower and seniors’ residence on the site, with the Company being a partner in the development of the condominium tower. The Company’s properties are situated in the urban markets.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
William C. Martin’s Raging Capital Management website.
Insitutional Activity: The institutional sentiment decreased to 0.72 in Q2 2016. Its down 0.26, from 0.98 in 2016Q1. The ratio turned negative, as 18 funds sold all Allied Hotel Properties Inc. shares owned while 40 reduced positions. 15 funds bought stakes while 27 increased positions. They now own 21.25 million shares or 8.61% less from 23.25 million shares in 2016Q1.
Diam Limited has 0.01% invested in the company for 50,550 shares. The California-based California Pub Employees Retirement Sys has invested 0% in Allied Hotel Properties Inc. (CVE:AHP). Advisors Asset Management owns 10,996 shares or 0% of their US portfolio. Moreover, Royal Commercial Bank Of Canada has 0% invested in Allied Hotel Properties Inc. (CVE:AHP) for 1,612 shares. Credit Agricole S A has 0% invested in the company for 1,512 shares. Prudential Fincl accumulated 0% or 86,386 shares. Jpmorgan Chase has 0% invested in the company for 893 shares. Morgan Stanley owns 23,418 shares or 0% of their US portfolio. Nationwide Fund Advsrs accumulated 0% or 20,364 shares. Blackrock Fund has invested 0% of its portfolio in Allied Hotel Properties Inc. (CVE:AHP). First Tru Advisors Ltd Partnership holds 0% of its portfolio in Allied Hotel Properties Inc. (CVE:AHP) for 10,151 shares. Spirit Of America Mgmt Ny holds 33,100 shares or 0.07% of its portfolio. Legal & General Plc holds 0% of its portfolio in Allied Hotel Properties Inc. (CVE:AHP) for 4,038 shares. Teacher Retirement Of Texas owns 3,559 shares or 0% of their US portfolio. Great West Life Assurance Com Can holds 4,007 shares or 0% of its portfolio.
Analysts await Ashford Hospitality Prime Inc (NYSE:AHP) to report earnings on November, 2. They expect $0.41 EPS, up 5.13% or $0.02 from last year’s $0.39 per share. AHP’s profit will be $10.46 million for 8.51 P/E if the $0.41 EPS becomes a reality. After $0.60 actual EPS reported by Ashford Hospitality Prime Inc for the previous quarter, Wall Street now forecasts -31.67% negative EPS growth.
The stock closed at $0.07 during the last session. It is down 6.00% since September 7, 2016 and is uptrending. It has underperformed by 2.34% the S&P500.
Allied Hotel Properties Inc. is a Canada company, which is engaged in the ownership, management and development of hotels and real estate in Canada. The company has a market cap of $7.44 million. The Company’s business activities include hotel and real estate acquisition, holding, development and management. It currently has negative earnings. The Firm owns and operates the Toronto Don Valley Hotel and Suites hotel, which is located in Toronto, Ontario .
More notable recent Allied Hotel Properties Inc. (CVE:AHP) news were published by: Businesswire.com which released: “Research and Markets: Industry Primer: Lodging & Hospitality – 2011 Describes …” on March 30, 2011, also Themiddlemarket.com with their article: “Has Mid-Market M&A Come to a Dead Stop, or is This a Momentary Pause?” published on February 03, 2016, Bizjournals.com published: “New owner demolishes Sacramento hotel property” on November 12, 2015. More interesting news about Allied Hotel Properties Inc. (CVE:AHP) were released by: Bizjournals.com and their article: “Oxford Capital CEO on the $174M Godfrey Hotel sale and why Boston is a top …” published on December 18, 2015 as well as Bizjournals.com‘s news article titled: “Airbnb fires back after hotel group accuses users of dodging regulations” with publication date: June 17, 2016.
According to Zacks Investment Research, “Ashford Hospitality Prime, Inc. is a real estate investment trust. It is focused on investing in high RevPAR full-service and urban select-service hotels and resorts located predominantly in domestic and international gateway markets. Ashford Hospitality Prime, Inc. is based in Dallas, Texas.”
AHP Company Profile
Ashford Hospitality Prime, Inc., incorporated on April 5, 2013, invests in high revenue per available room (RevPAR), luxury, upper-upscale and upscale hotels in gateway and resort locations. The Firm conducts its business and owns all of its assets through its operating partnership, Ashford Hospitality Prime Limited Partnership. The Firm operates in the direct hotel investment segment of the hotel lodging industry. The Firm owns interest in over 15 hotels in approximately six states, the District of Columbia (D.C.) and St. Thomas, the United States Virgin Islands with over 3,950 total rooms, excluding those attributable to its partner. The hotels in its portfolio are located in the United States gateway and resort locations. The Firm owns over 10 of its hotel properties directly, and the remaining hotel properties through an investment in a majority-owned consolidated entity. All of the hotels in the Company’s portfolio are asset-managed by Ashford Hospitality Advisors LLC. The Company’s portfolio of hotels operates under brands affiliated with Marriott International, Inc., Hilton Worldwide, Inc., Accor Business and Leisure Management, LLC and Remington Lodging and Hospitality LLC.
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