Virginia Foxx, a congress member representing North Carolina's 5th congressional district, has recently made several new investments, according to a congressional trade report.
Foxx purchased common stocks in Ardmore Shipping Corporation (NYSE:ASC) on two separate occasions. The first purchase took place on March 4, 2024, and the second on March 6, 2024. The value of each transaction ranged from $1,001 to $15,000.
In addition to her investments in Ardmore Shipping Corporation, Foxx also purchased common stock in Hercules Capital, Inc. (NYSE:NYSE:HTGC) on March 7, 2024. The value of this transaction was also between $1,001 and $15,000.
All these transactions were made using Foxx's joint account, as indicated in the report.
Ardmore Shipping Corporation is an international company that owns and operates a fleet of mid-size product and chemical tankers. Hercules Capital, Inc. is a business development company specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development.
These new investments by Foxx are part of her ongoing financial activities as a member of Congress. As with all congressional members, Foxx is required to report her financial transactions to ensure transparency and prevent any potential conflicts of interest.
InvestingPro Insights
Amidst the recent investments by Virginia Foxx, Ardmore Shipping Corporation (NYSE:ASC) presents a notable profile according to the latest data from InvestingPro. The company, which specializes in the operation of mid-size product and chemical tankers, has a market capitalization of $671.61 million USD and is trading near its 52-week high, showcasing investor confidence.
InvestingPro Tips suggest that Ardmore Shipping Corporation operates with a moderate level of debt and has liquid assets that exceed its short-term obligations—factors that may offer some financial stability to investors. Additionally, analysts predict the company will be profitable this year, which could be a reassuring sign for potential investors like Foxx. It is also worth mentioning that the company has been profitable over the last twelve months and has seen a large price uptick over the last six months, indicating positive momentum.
Key InvestingPro Data metrics for Ardmore Shipping Corporation reveal a P/E Ratio of 5.88, reflecting potentially undervalued stock compared to earnings. The company's gross profit margin stands at an impressive 45.76%, and it offers a generous dividend yield of 5.09%, which could be attractive to income-focused investors.
For those interested in further insights, there are additional InvestingPro Tips available for Ardmore Shipping Corporation, which can be accessed through the dedicated page: https://www.investing.com/pro/ASC. Readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to a wealth of financial data and expert analysis to inform investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.