Associated Capital Group, Inc. (NYSE:AC) Sees Large Growth in Short Interest

Associated Capital Group, Inc. (NYSE:AC) was the target of a significant increase in short interest in August. As of August 31st, there was short interest totalling 16,600 shares, an increase of 15.3% from the August 15th total of 14,400 shares. Based on an average daily volume of 7,600 shares, the days-to-cover ratio is currently 2.2 days. Currently, 0.7% of the company’s shares are short sold.

Institutional Trading of Associated Capital Group

Several hedge funds have recently bought and sold shares of AC. OFI Invest Asset Management bought a new position in Associated Capital Group during the 2nd quarter valued at $1,244,000. Quent Capital LLC purchased a new stake in shares of Associated Capital Group in the first quarter valued at about $222,000. Finally, Renaissance Technologies LLC lifted its position in shares of Associated Capital Group by 3.3% during the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 8.14% of the company’s stock.

Associated Capital Group Price Performance

Shares of NYSE:AC traded up $0.36 during mid-day trading on Tuesday, hitting $33.65. The company had a trading volume of 5,886 shares, compared to its average volume of 5,725. The company has a market capitalization of $720.14 million, a PE ratio of 21.48 and a beta of 0.88. Associated Capital Group has a one year low of $28.58 and a one year high of $37.40. The firm has a fifty day moving average price of $32.65 and a 200 day moving average price of $33.01.

Associated Capital Group (NYSE:AC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.14 earnings per share for the quarter. Associated Capital Group had a net margin of 246.48% and a return on equity of 3.65%. The firm had revenue of $2.60 million for the quarter.

About Associated Capital Group

Associated Capital Group, Inc, together with its subsidiaries, provides investment advisory services in the United States. The company offers alternative investment management services; and operates a direct investment business. It also invests in new and existing businesses. The company was founded in 1976 and is headquartered in Greenwich, Connecticut.