Aankondiging • Jul 26
Ashford Inc. Announces Demise of W. Michael Murphy, Member of Board of Directors Ashford Inc. announced that Mr. W. Michael Murphy, a member of its Board of Directors, passed away on July 24, 2024. Mr. Murphy had a distinguished career in the hotel industry and has been a key member of the Company's Board of Directors, serving since August 2018. Prior to serving on the board of Ashford Inc., Michael served on the board of Braemar Hotels & Resorts from 2013 to 2015 and he served on the board of Ashford Hospitality Trust from 2003 to 2013. Aankondiging • Apr 03
Ashford's Board of Directors Approves Plan to Terminate Registration of Common Stock Ashford Inc. (‘Ashford’ or the ‘Company’) 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. 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. Without its public company status, Ashford would have an ongoing cost structure befitting its current and foreseeable scale of operations, and its management would be able to focus on long-term growth without an undue emphasis on short-term financial results. The purpose of the reverse stock split is to (i) help Ashford reduce and maintain below 300 record holders of its common stock, which is the level at which SEC public reporting obligations are required, (ii) offer liquidity to smaller stockholders at $5.00 per share without a brokerage commission, and (iii) provide all stockholders the opportunity to vote on this matter. Among the factors considered by Ashford's Board of Directors were: the significant ongoing costs and management time and effort involved in the Company remaining a public company, including the preparation and filing of periodic and other reports with the SEC and compliance with Sarbanes-Oxley Act and other applicable requirements; the limited trading volume and liquidity of the Company's common stock; the business and operations of the Company are expected to continue substantially as presently conducted, except without the burden of public company costs; enabling the Company's stockholders with the smallest holdings, who represent a large number of the record holders of Company's common stock, to liquidate their holdings in the Company's common stock and receive a premium over current market prices without incurring brokerage commissions; the determination of Oppenheimer, independent fairness opinion provider to the Special Committee, that the Proposed Transaction consideration for the fractional shares is fair from a financial point of view to the unaffiliated stockholders; and as a result of the deregistration and delisting, the ability of the Company's management and employees to focus their time, effort and resources on the Company's long-term growth and increasing long-term stockholder value. Subject to regulatory clearance of the Company's proxy statement to be filed relating to the Proposed Transaction and stockholder approval thereof, it is anticipated that the Company would initiate its plan to terminate the registration of its common stock shortly after the Special Meeting of Stockholders, which is expected to be held in the summer of 2024. Approval of the Reverse Stock Split requires a majority vote cast of the Company's common stock (taking into account the Company's Series D Convertible Preferred Stock on an as-converted basis) at the Special Meeting. (A ‘majority vote’ means that more votes have been cast for a proposal than against it, and abstentions and broker non-votes, if any, will not be considered as votes cast). Aankondiging • Mar 29
Ashford Inc., Annual General Meeting, May 15, 2024 Ashford Inc., Annual General Meeting, May 15, 2024, at 09:30 Central Daylight. Location: 14185 Dallas Parkway, Suite 1200 Dallas, Texas 75254 Dallas United States Agenda: To Election of six directors; to consider Advisory approval of our executive compensation; to consider Ratification of the appointment of BDO USA, P.C. as our independent auditor for 2024; to consider Approval of Amendment No. 2 to the Ashford Inc. 2014 Incentive Plan; and to consider transaction of any other business that may properly come before the annual meeting. Aankondiging • Mar 27
Ashford Inc. to Report Q1, 2024 Results on May 08, 2024 Ashford Inc. announced that they will report Q1, 2024 results After-Market on May 08, 2024 Reported Earnings • Mar 03
Full year 2023 earnings released: US$1.50 loss per share (vs US$11.26 loss in FY 2022) Full year 2023 results: US$1.50 loss per share (improved from US$11.26 loss in FY 2022). Revenue: US$765.9m (up 171% from FY 2022). Net loss: US$4.63m (loss narrowed 86% from FY 2022). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. New Risk • Jan 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: US$9.73m This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (US$9.73m market cap). Minor Risk Shareholders have been diluted in the past year (3.1% increase in shares outstanding). Aankondiging • Dec 28
Ashford Inc. to Report Q4, 2023 Results on Feb 29, 2024 Ashford Inc. announced that they will report Q4, 2023 results After-Market on Feb 29, 2024 Aankondiging • Dec 27
Ashford Receives Letter of Non-Compliance from NYSE American Ashford Inc. ("Ashford" or the "Company") announced that it received a letter from the NYSE American LLC (the "NYSE American") dated December 20, 2023, notifying that the Company is no longer in compliance with NYSE American continued listing standards. Specifically, the letter states that the Company is not in compliance with the continued listing standards set in Sections 1003(a)(i) and (ii) of the NYSE American Company Guide (the "Company Guide"). Section 1003(a)(i) requires a listed company to have stockholders' equity of $2 million or more if the listed company has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years. Section 1003(a)(ii) requires a listed company to have stockholders' equity of $4 million or more if the listed company has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. The Company reported a stockholders' deficit of $295.7 million as of September 30, 2023, and has had losses from continuing operations and/or net losses in three of its four most recent fiscal years ended December 31, 2022. However, Section 1003(a) of the Company Guide states that the NYSE American will not normally consider suspending dealings in, or removing from the list, the securities of a listed company which is below standards (i) and (ii) of Section 1003(a) if the listed company is in compliance with the following two standards: (1) total value of market capitalization of at least $50 million; or total assets and revenue of $50 million each in its last fiscal year, or in two of its last three fiscal years; and (2) the listed company has at least 1.1 million shares publicly held, a market value of publicly held shares of at least $15 million and 400 round lot shareholders. As of December 20, 2023, the Company was in compliance with the first standard because it had total assets and total revenue of at least $50 million in its last fiscal year and was in compliance with the second standard, except that the current market value of publicly held shares was below $15 million. The Company must submit a plan of compliance (the "Plan") by January 19, 2024 addressing how it intends to regain compliance with Sections 1003(a)(i) and (ii) of the Company Guide by June 20, 2025, or sooner if the NYSE American determines that the nature and circumstances of the Company's continued listing status warrant a shorter period of time. The Company intends to fully comply with the NYSE American's requests and will submit its Plan accordingly. The Company's stock will continue to be listed on the NYSE American while the Company evaluates its various alternatives. The Company's receipt of such notification from the NYSE American does not affect the Company's business, operations or reporting requirements with the U.S. Securities and Exchange Commission. Aankondiging • Dec 08
Ashford Inc. Announces Executive Changes Ashford Inc. announced that On December 5, 2023, Mark Nunneley, Chief Accounting Officer of the company, announced to the Board of Directors (the ‘ Board ‘) of the Company his intention to voluntarily step down from his role as the Chief Accounting Officer and all other positions he holds with the Company and its subsidiaries, affiliated entities, and entities that it advises to become Senior Managing Director of the Company on a full-time basis, in which role he will provide strategic advice to the Company and be responsible for special projects as requested by the Company. Mr. Nunneley’s transition will be effective December 31, 2023 (the ‘ Effective Date ‘). On December 7, 2023, Justin Coe, the Company’s current Senior Vice President of Accounting, was appointed to fill the role of Chief Accounting Officer at the Company, effective January 1, 2024. Mr. Coe, age 40, has served as the Company’s Senior Vice President of Accounting since July 2015. As Senior Vice President of Accounting, Mr. Coe was responsible for overseeing most of the accounting functions for the Company and each of its advised platforms, including Ashford Hospitality Trust Inc. and Braemar Hotels & Resorts Inc. Such functions include tax, financial reporting, corporate controller, portfolio accounting, internal audit, information systems, acquisitions and special projects. Prior to joining the Company, Mr. Coe was a Senior Manager at Ernst & Young LLP and served since 2006 in various Assurance and Advisory roles for public and private companies in the airline, real estate, medical device and other industries domestically and internationally. Mr. Coe holds Bachelor of Business Administration and Master of Accountancy degrees from Texas State University – San Marcos and is a licensed certified public accountant (CPA) in the state of Texas. Reported Earnings • Nov 10
Third quarter 2023 earnings: EPS and revenues miss analyst expectations Third quarter 2023 results: US$3.87 loss per share (further deteriorated from US$3.38 loss in 3Q 2022). Revenue: US$181.2m (up 167% from 3Q 2022). Net loss: US$12.0m (loss widened 20% from 3Q 2022). Revenue missed analyst estimates by 2.9%. Earnings per share (EPS) also missed analyst estimates by 195%. Revenue is forecast to grow 23% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Oct 06
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 9.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (US$25m net loss in 2 years). Share price has been volatile over the past 3 months (9.4% average weekly change). Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Market cap is less than US$100m (US$19.3m market cap). Aankondiging • Sep 20
Ashford Inc. to Report Q3, 2023 Results on Nov 01, 2023 Ashford Inc. announced that they will report Q3, 2023 results at 4:00 PM, US Eastern Standard Time on Nov 01, 2023 Reported Earnings • Aug 04
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: US$2.41 loss per share (further deteriorated from US$1.22 loss in 2Q 2022). Revenue: US$192.7m (up 147% from 2Q 2022). Net loss: US$7.46m (loss widened 111% from 2Q 2022). Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 9.2% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Aankondiging • Jun 20
Ashford Inc. to Report Q2, 2023 Results on Aug 02, 2023 Ashford Inc. announced that they will report Q2, 2023 results After-Market on Aug 02, 2023 Major Estimate Revision • May 25
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$760.5m to US$726.3m. Losses expected to increase from US$9.87 per share to US$11.24. Capital Markets industry in the US expected to see average net income growth of 22% next year. Consensus price target down from US$20.00 to US$16.00. Share price fell 3.9% to US$9.42 over the past week. Reported Earnings • May 07
First quarter 2023 earnings: EPS and revenues exceed analyst expectations First quarter 2023 results: US$2.59 loss per share (improved from US$3.00 loss in 1Q 2022). Revenue: US$185.1m (up 209% from 1Q 2022). Net loss: US$7.73m (loss narrowed 8.3% from 1Q 2022). Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) also surpassed analyst estimates by 2.3%. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Mar 24
Consensus EPS estimates upgraded to US$9.87 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -US$11.41 to -US$9.87 per share. Revenue forecast steady at US$712.0m. Capital Markets industry in the US expected to see average net income growth of 12% next year. Consensus price target down from US$28.00 to US$21.00. Share price was steady at US$12.26 over the past week. Reported Earnings • Feb 24
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: US$11.26 loss per share (improved from US$16.68 loss in FY 2021). Revenue: US$644.4m (up 257% from FY 2021). Net loss: US$32.8m (loss narrowed 29% from FY 2021). Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) missed analyst estimates by 1.4%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Aankondiging • Jan 06
Ashford Inc. to Report Q4, 2022 Results on Feb 22, 2023 Ashford Inc. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 22, 2023 Price Target Changed • Nov 16
Price target decreased to US$23.00 Down from US$25.50, the current price target is an average from 2 analysts. New target price is 63% above last closing price of US$14.10. Stock is down 42% over the past year. The company is forecast to post a net loss per share of US$11.11 next year compared to a net loss per share of US$16.68 last year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 4 highly experienced directors. Independent Director W. Murphy was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: US$3.38 loss per share (further deteriorated from US$3.32 loss in 3Q 2021). Revenue: US$164.6m (up 241% from 3Q 2021). Net loss: US$10.0m (loss widened 8.5% from 3Q 2021). Revenue exceeded analyst estimates by 11%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Capital Markets industry in the US. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 18
Price target increased to US$25.50 Up from US$22.50, the current price target is an average from 2 analysts. New target price is 32% above last closing price of US$19.35. Stock is up 36% over the past year. The company is forecast to post a net loss per share of US$15.17 next year compared to a net loss per share of US$16.68 last year. Breakeven Date Change • Aug 13
Forecast to breakeven in 2022 The 2 analysts covering Ashford expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$9.60m in 2022. Reported Earnings • Aug 05
Second quarter 2022 earnings: EPS and revenues exceed analyst expectations Second quarter 2022 results: US$1.22 loss per share (up from US$5.31 loss in 2Q 2021). Revenue: US$78.2m (up 95% from 2Q 2021). Net loss: US$3.54m (loss narrowed 76% from 2Q 2021). Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) also surpassed analyst estimates by 64%. Over the next year, revenue is forecast to grow 134%, compared to a 1.9% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Breakeven Date Change • Jun 15
Forecast to breakeven in 2022 The 2 analysts covering Ashford expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$9.30m in 2022. Reported Earnings • May 06
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: US$3.00 loss per share (up from US$6.37 loss in 1Q 2021). Revenue: US$134.0m (up 344% from 1Q 2021). Net loss: US$8.43m (loss narrowed 51% from 1Q 2021). Revenue exceeded analyst estimates by 21%. Earnings per share (EPS) also surpassed analyst estimates by 33%. Over the next year, revenue is forecast to grow 96%, compared to a 2.7% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 36% per year, which means it is performing significantly worse than earnings. Buying Opportunity • Apr 29
Now 23% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be US$16.99, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years. Meanwhile, the company became loss making. For the next 3 years, revenue is forecast to grow by 31% per annum. Earnings is also forecast to grow by 2.0% per annum over the same time period. Price Target Changed • Apr 27
Price target decreased to US$19.00 Down from US$22.50, the current price target is provided by 1 analyst. New target price is 39% above last closing price of US$13.70. Stock is up 60% over the past year. The company is forecast to post a net loss per share of US$18.14 next year compared to a net loss per share of US$16.68 last year. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Director W. Murphy was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 18
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Director W. Murphy was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 30
Third quarter 2021 earnings released: US$3.32 loss per share (vs US$9.53 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$102.4m (up 269% from 3Q 2020). Net loss: US$9.23m (loss narrowed 58% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 58% per year but the company’s share price has only fallen by 36% per year, which means it has not declined as severely as earnings. Board Change • Sep 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. No highly experienced directors. Independent Director W. Murphy was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Aug 06
Consensus revenue estimates increase to US$353.8m The consensus outlook for revenues in 2021 has improved. 2021 revenue forecast increased from US$272.6m to US$353.8m. Forecast losses expected to reduce from -US$22.62 to -US$21.38 per share. Capital Markets industry in the US expected to see average net income growth of 11% next year. Consensus price target of US$22.50 unchanged from last update. Share price fell 9.7% to US$16.60 over the past week. Reported Earnings • Jul 31
Second quarter 2021 earnings released: US$5.31 loss per share (vs US$7.37 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$88.3m (up 311% from 2Q 2020). Net loss: US$14.7m (loss narrowed 12% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 37 percentage points per year, which is a significant difference in performance. Price Target Changed • May 25
Price target increased to US$20.00 Up from US$15.00, the current price target is an average from 2 analysts. New target price is 33% above last closing price of US$15.00. Stock is up 131% over the past year. Major Estimate Revision • May 16
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 losses forecast to reduce from -US$26.81 to -US$22.62 per share. Revenue forecast steady at US$291.1m. Capital Markets industry in the US expected to see average net income growth of 12% next year. Consensus price target of US$16.00 unchanged from last update. Share price fell 9.1% to US$10.30 over the past week. Reported Earnings • May 06
First quarter 2021 earnings released: US$6.37 loss per share (vs US$84.73 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: US$63.9m (up 9.7% from 1Q 2020). Net loss: US$17.1m (loss narrowed 91% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 46 percentage points per year, which is a significant difference in performance. Price Target Changed • Mar 24
Price target decreased to US$12.50 Down from US$15.00, the current price target is provided by 1 analyst. New target price is 16% above last closing price of US$10.75. Stock is up 111% over the past year. Reported Earnings • Mar 19
Full year 2020 earnings released: US$108 loss per share (vs US$12.03 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: US$134.8m (down 35% from FY 2019). Net loss: US$247.3m (loss widened US$218.3m from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 59 percentage points per year, which is a significant difference in performance. Recent Insider Transactions • Mar 10
Executive VP recently sold US$167k worth of stock On the 9th of March, Robert Haiman sold around 21k shares on-market at roughly US$7.86 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$160k more than they sold in the last 12 months. Price Target Changed • Mar 05
Price target raised to US$15.00 Up from US$12.00, the current price target is provided by 1 analyst. The new target price is 86% above the current share price of US$8.08. As of last close, the stock is down 58% over the past year. Analyst Estimate Surprise Post Earnings • Feb 28
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 20%. Earnings per share (EPS) exceeded analyst estimates by 3.9%. Over the next year, revenue is forecast to grow 42%, compared to a 33% growth forecast for the Capital Markets industry in the US. Reported Earnings • Feb 27
Full year 2020 earnings released: US$108 loss per share (vs US$12.03 loss in FY 2019) The company reported a mediocre full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$297.4m (up 44% from FY 2019). Net loss: US$247.3m (loss widened US$218.3m from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 57 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 19
New 90-day high: US$8.76 The company is up 35% from its price of US$6.50 on 20 November 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 22% over the same period. Is New 90 Day High Low • Jan 01
New 90-day high: US$8.58 The company is up 49% from its price of US$5.74 on 02 October 2020. The American market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 20% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Aankondiging • Nov 05
Ashford Announces Acceptance of Compliance Plan by NYSE American Ashford Inc. announced that the NYSE American LLC (the "NYSE American") has accepted the Company's plan of compliance for continued listing on the exchange. As previously reported, on August 26, 2020, the Company received notification (the "Letter") from the NYSE American that it was not in compliance with the continued listing standards set forth in the NYSE American Company Guide (the "Company Guide"). Specifically, the Letter indicated that the Company was not in compliance with Sections 1003(a)(i) and 1003(a)(ii) of the Company Guide, requiring a listed company to have stockholders' equity of (i) at least $2.0 million if it has reported losses from continuing operations or net losses in two of its three most recent fiscal years and (ii) at least $4.0 million if it has reported losses from continuing operations or net losses in three of its four most recent fiscal years. The Letter noted that the Company reported a stockholders' deficit of $159.2 million as of June 30, 2020, and has had losses from continuing operations and/or net losses in each of its five most recent fiscal years, except for the fiscal year ended December 31, 2018. The Company was required to submit a plan to the NYSE American by September 25, 2020 addressing how it intends to regain compliance with Sections 1003(a)(i) and (ii) of the Company Guide by February 26, 2022, or sooner if the NYSE American determines that the nature and circumstances of the Company's continued listing status warrant a shorter period of time. The Company submitted a plan prior to the deadline. On October 29, 2020, the Company received notice from the NYSE American that it had accepted the Company's plan and granted a plan period through February 26, 2022. During the plan period the Company will be subject to quarterly review to determine if it is making progress consistent with the plan. If the Company does not regain compliance with the NYSE American listing standards by February 26, 2022, or if the Company does not make sufficient progress consistent with its plan, then the NYSE American may initiate delisting proceedings. The Company's stock will continue to be listed on the NYSE American during the plan period pursuant to an extension. The Company's receipt of such notification from the NYSE American does not affect the Company's business, operations or reporting requirements with the U.S. Securities and Exchange Commission. Reported Earnings • Oct 30
Third quarter earnings released Over the last 12 months the company has reported total losses of US$238.9m, with losses widening by US$224.0m from the prior year. Total revenue was US$257.7m over the last 12 months, up 52% from the prior year. Is New 90 Day High Low • Oct 27
New 90-day low: US$4.93 The company is down 30% from its price of US$7.00 on 29 July 2020. The American market is up 6.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Capital Markets industry, which is up 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Aankondiging • Oct 04
Ashford Inc. to Report Q3, 2020 Results on Oct 28, 2020 Ashford Inc. announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Oct 28, 2020 Aankondiging • Aug 29
Ashford Inc. Receives Letter of Non-Compliance from NYSE American Ashford Inc. announced that it received a letter from the NYSE American LLC (the "NYSE American") dated August 26, 2020, notifying that the Company is no longer in compliance with NYSE American continued listing standards. Specifically, the letter states that the Company is not in compliance with the continued listing standards set forth in Sections 1003(a)(i) and (ii) of the NYSE American Company Guide (the "Company Guide"). Section 1003(a)(i) requires a listed company to have stockholders' equity of $2 million or more if the listed company has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years. Section 1003(a)(ii) requires a listed company to have stockholders' equity of $4 million or more if the listed company has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years. The Company reported a stockholders' deficit of $159.1 million as of June 30, 2020, and has had losses from continuing operations and/or net losses in each of its five most recent fiscal years, except for the fiscal year ended December 31, 2018. However, Section 1003(a) states that the NYSE American will not normally consider suspending dealings in, or removing from the list, the securities of a listed company which is below standards (i) and (ii) of Section 1003(a) if the listed company is in compliance with the following two standards: (1) total value of market capitalization of at least $50 million; or total assets and revenue of $50 million each in its last fiscal year, or in two of its last three fiscal years; and (2) the listed company has at least 1.1 million shares publicly held, a market value of publicly held shares of at least $15 million and 400 round lot shareholders. As of August 26, 2020, the Company was in compliance with the first standard because it had total assets and total revenue of at least $50 million in its last fiscal year and was in compliance with the second standard, except that the current market value of publicly held shares was below $15 million. The Company must submit a plan of compliance (the "Plan") by September 25, 2020 addressing how it intends to regain compliance with Sections 1003(a)(i) and (ii) of the Company Guide by February 26, 2022, or sooner if the NYSE American determines that the nature and circumstances of the Company's continued listing status warrant a shorter period of time. The Company intends to fully comply with the NYSE American's requests and will submit its Plan accordingly. The Company's stock will continue to be listed on the NYSE American while the Company evaluates its various alternatives. Aankondiging • Jul 04
Ashford Inc.(AMEX:AINC) dropped from Russell Microcap Growth Index Ashford Inc.(AMEX:AINC) dropped from Russell Microcap Growth Index