Advanced Drainage Systems’ Quiet Period Set To End Tomorrow (NYSE:WMS)
Advanced Drainage Systems’ (NYSE:WMS) quiet period is set to end on Wednesday, September 3rd. Advanced Drainage Systems had issued 14,500,000 shares in its IPO on July 25th, Analyst Ratings Network reports. The total size of the offering was $232,000,000 based on an initial share price of $16.00. During the company’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any earnings forecasts or research reports for the company because of SEC regulations. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Shares of Advanced Drainage Systems (NYSE:WMS) traded down 0.58% on Tuesday, hitting $18.86. 7,924 shares of the company’s stock traded hands. Advanced Drainage Systems has a 52-week low of $14.74 and a 52-week high of $19.60. The stock has a 50-day moving average of $16.37 and a 200-day moving average of $16.37. The company’s market cap is $994.8 million.
In other Advanced Drainage Systems news, major shareholder Asp Ads Investco, Llc unloaded 514,286 shares of the stock on the open market in a transaction dated Friday, August 22nd. The shares were sold at an average price of $14.96, for a total value of $7,693,718.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Advanced Drainage Systems, Inc is a manufacturer of thermoplastic corrugated pipe, providing a comprehensive suite of water management products and superior drainage solutions for use in the construction and infrastructure marketplace.
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