Associated Capital Group (NYSE:AC) Shares Gap Down – Here’s What Happened

Associated Capital Group, Inc. (NYSE:AC) gapped down prior to trading on Thursday . The stock had previously closed at $35.12, but opened at $34.26. Associated Capital Group shares last traded at $34.26, with a volume of 132 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised Associated Capital Group from a “hold” rating to a “buy” rating in a research note on Thursday.

Associated Capital Group Price Performance

The company’s 50 day moving average price is $36.43 and its 200 day moving average price is $34.32. The firm has a market cap of $778.23 million, a PE ratio of 13.30 and a beta of 0.87.

Associated Capital Group Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. This represents a dividend yield of 0.6%. The ex-dividend date is Thursday, December 5th. Associated Capital Group’s dividend payout ratio is currently 7.60%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Quent Capital LLC acquired a new position in Associated Capital Group during the 3rd quarter worth approximately $240,000. Dynamic Advisor Solutions LLC increased its holdings in Associated Capital Group by 2.4% in the third quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after buying an additional 298 shares during the last quarter. Geode Capital Management LLC raised its stake in Associated Capital Group by 28.4% in the third quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after buying an additional 4,841 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Associated Capital Group by 3.3% during the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after buying an additional 800 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Associated Capital Group during the 2nd quarter worth about $1,244,000. 8.14% of the stock is currently owned by hedge funds and other institutional investors.

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.