Associated Capital Group (NYSE:AC) Shares Gap Down to $38.50

Associated Capital Group, Inc. (NYSE:ACGet Rating)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $38.50, but opened at $37.52. Associated Capital Group shares last traded at $37.26, with a volume of 35 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on AC shares. StockNews.com cut Associated Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, June 2nd. TheStreet cut Associated Capital Group from a “c” rating to a “d+” rating in a research report on Tuesday.

Associated Capital Group Trading Down 3.5 %

The company has a market capitalization of $797.90 million, a price-to-earnings ratio of -22.80 and a beta of 1.16. The company has a fifty day moving average of $39.97 and a 200-day moving average of $39.14.

Associated Capital Group (NYSE:ACGet Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The financial services provider reported ($1.36) earnings per share (EPS) for the quarter. Associated Capital Group had a negative return on equity of 3.83% and a negative net margin of 165.46%. The firm had revenue of $2.55 million during the quarter.

Insider Buying and Selling

In other news, major shareholder Gamco Investors, Inc. Et Al acquired 2,000 shares of the stock in a transaction that occurred on Monday, June 27th. The shares were bought at an average cost of $25.00 per share, for a total transaction of $50,000.00. Following the acquisition, the insider now owns 12,000 shares in the company, valued at approximately $300,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have bought 5,900 shares of company stock worth $147,064. Insiders own 85.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. acquired a new position in shares of Associated Capital Group during the 1st quarter worth approximately $242,000. Citadel Advisors LLC acquired a new position in shares of Associated Capital Group during the 2nd quarter worth approximately $218,000. State Board of Administration of Florida Retirement System boosted its holdings in shares of Associated Capital Group by 36.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 6,817 shares of the financial services provider’s stock worth $244,000 after purchasing an additional 1,817 shares during the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Associated Capital Group during the 2nd quarter worth approximately $272,000. Finally, State Street Corp boosted its holdings in shares of Associated Capital Group by 0.9% during the 1st quarter. State Street Corp now owns 37,337 shares of the financial services provider’s stock worth $1,565,000 after purchasing an additional 331 shares during the last quarter. 9.81% of the stock is currently owned by institutional investors and hedge funds.

About Associated Capital Group

(Get Rating)

Associated Capital Group, Inc provides investment advisory services in the United States. The company offers alternative investment management and asset management services. It also invests in new and existing businesses. The company was founded in 1976 and is headquartered in Greenwich, Connecticut.

Further Reading

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