MMCAP International Inc. SPC Reduces Stake in Algoma Steel Group Inc. (NASDAQ:ASTL)

MMCAP International Inc. SPC lessened its position in Algoma Steel Group Inc. (NASDAQ:ASTL) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,620,003 shares of the company’s stock after selling 377,325 shares during the period. Algoma Steel Group comprises 10.0% of MMCAP International Inc. SPC’s portfolio, making the stock its 2nd largest holding. MMCAP International Inc. SPC owned about 6.31% of Algoma Steel Group worth $64,744,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wexford Capital LP purchased a new position in shares of Algoma Steel Group during the third quarter valued at approximately $107,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Algoma Steel Group by 13.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 21,188 shares of the company’s stock valued at $217,000 after purchasing an additional 2,481 shares during the last quarter. XTX Topco Ltd raised its holdings in shares of Algoma Steel Group by 132.8% during the third quarter. XTX Topco Ltd now owns 24,433 shares of the company’s stock valued at $250,000 after purchasing an additional 13,937 shares during the last quarter. Barclays PLC raised its holdings in shares of Algoma Steel Group by 147.1% during the third quarter. Barclays PLC now owns 25,711 shares of the company’s stock valued at $263,000 after purchasing an additional 15,305 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of Algoma Steel Group by 831.9% during the third quarter. Quantbot Technologies LP now owns 28,375 shares of the company’s stock valued at $290,000 after purchasing an additional 25,330 shares during the last quarter. Institutional investors own 72.00% of the company’s stock.

Algoma Steel Group Stock Down 4.3 %

ASTL opened at $7.04 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 3.31 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $8.60 and a 200-day moving average price of $9.68. Algoma Steel Group Inc. has a twelve month low of $6.67 and a twelve month high of $12.14. The stock has a market capitalization of $738.36 million, a price-to-earnings ratio of -5.54 and a beta of 1.46.

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.