Y Intercept Hong Kong Ltd Trims Stock Position in Algoma Steel Group Inc. $ASTL

Y Intercept Hong Kong Ltd trimmed its holdings in Algoma Steel Group Inc. (NASDAQ:ASTL) by 55.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 42,190 shares of the company’s stock after selling 52,656 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Algoma Steel Group were worth $291,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ASTL. Donald Smith & CO. Inc. lifted its stake in shares of Algoma Steel Group by 0.3% in the 1st quarter. Donald Smith & CO. Inc. now owns 8,088,120 shares of the company’s stock valued at $43,838,000 after purchasing an additional 20,517 shares during the last quarter. MMCAP International Inc. SPC raised its holdings in Algoma Steel Group by 0.3% in the 1st quarter. MMCAP International Inc. SPC now owns 6,641,417 shares of the company’s stock valued at $35,996,000 after buying an additional 21,414 shares during the period. Solas Capital Management LLC raised its holdings in Algoma Steel Group by 37.7% in the 1st quarter. Solas Capital Management LLC now owns 1,460,646 shares of the company’s stock valued at $7,917,000 after buying an additional 400,000 shares during the period. TD Asset Management Inc lifted its position in Algoma Steel Group by 712.0% in the second quarter. TD Asset Management Inc now owns 1,363,300 shares of the company’s stock valued at $9,402,000 after buying an additional 1,195,416 shares during the last quarter. Finally, AYAL Capital Advisors Ltd boosted its stake in Algoma Steel Group by 30.9% during the first quarter. AYAL Capital Advisors Ltd now owns 1,242,680 shares of the company’s stock worth $6,735,000 after buying an additional 293,396 shares during the period. Hedge funds and other institutional investors own 72.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Algoma Steel Group in a research note on Wednesday, October 8th. Wall Street Zen lowered Algoma Steel Group from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Algoma Steel Group Stock Up 5.5%

Shares of ASTL opened at $3.86 on Friday. The company’s 50-day simple moving average is $4.20 and its 200-day simple moving average is $5.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 2.29. Algoma Steel Group Inc. has a 1 year low of $3.02 and a 1 year high of $12.10. The stock has a market capitalization of $405.03 million, a PE ratio of -0.81 and a beta of 1.56.

Algoma Steel Group (NASDAQ:ASTL) last announced its earnings results on Wednesday, November 5th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of ($0.66) by $0.78. The firm had revenue of $380.44 million for the quarter, compared to the consensus estimate of $366.98 million. Algoma Steel Group had a negative net margin of 31.27% and a negative return on equity of 15.13%. Analysts forecast that Algoma Steel Group Inc. will post -0.63 earnings per share for the current fiscal year.

About Algoma Steel Group

Algoma Steel Group Inc produces and sells steel products primarily in North America. The company provides flat/sheet steel products, including temper rolling, cold rolled, hot-rolled pickled and oiled products, floor plate, and cut-to-length products for the automotive industry, hollow structural product manufacturers, and the light manufacturing and transportation industries; and plate steel products that consist of rolled, hot-rolled, and heat-treated for use in the construction or manufacture of railcars, buildings, bridges, off-highway equipment, storage tanks, ships, and military applications.