Associated Capital Group (NYSE:AC) Stock Crosses Below 50 Day Moving Average – Here’s Why

Shares of Associated Capital Group, Inc. (NYSE:AC) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $36.70 and traded as low as $35.84. Associated Capital Group shares last traded at $36.20, with a volume of 3,761 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Associated Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th.

Associated Capital Group Trading Down 0.4 %

The stock has a fifty day moving average price of $36.70 and a 200 day moving average price of $36.07. The firm has a market cap of $768.78 million, a price-to-earnings ratio of 17.49 and a beta of 0.92.

Associated Capital Group (NYSE:AC) last announced its quarterly earnings results on Wednesday, February 5th. The financial services provider reported $0.20 EPS for the quarter. Associated Capital Group had a return on equity of 4.88% and a net margin of 336.45%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Associated Capital Group by 11,616.7% in the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 697 shares during the period. Empowered Funds LLC acquired a new stake in Associated Capital Group in the 4th quarter valued at approximately $149,000. Northern Trust Corp increased its position in Associated Capital Group by 17.6% in the 4th quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider’s stock worth $630,000 after buying an additional 2,755 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Associated Capital Group by 28.4% during the third quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock worth $776,000 after buying an additional 4,841 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Associated Capital Group in the fourth quarter valued at approximately $1,092,000. Institutional investors and hedge funds own 8.14% of the company’s stock.

Associated Capital Group Company Profile

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.