Associated Capital Group (NYSE:AC) Stock Rating Lowered by StockNews.com

Associated Capital Group (NYSE:AC) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

Associated Capital Group Trading Down 1.4 %

AC traded down $0.54 during trading on Tuesday, hitting $37.25. The stock had a trading volume of 7,900 shares, compared to its average volume of 5,133. Associated Capital Group has a 12 month low of $28.58 and a 12 month high of $43.85. The firm has a market cap of $791.19 million, a PE ratio of 18.00 and a beta of 0.88. The company has a 50 day simple moving average of $36.26 and a 200-day simple moving average of $35.56.

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

Institutional Investors Weigh In On Associated Capital Group

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew 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 purchasing an additional 4,841 shares during the last quarter. Empowered Funds LLC bought a new stake in Associated Capital Group during the 4th quarter worth about $149,000. Northern Trust Corp grew its holdings in Associated Capital Group by 17.6% during the 4th quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider’s stock worth $630,000 after acquiring an additional 2,755 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Associated Capital Group in the 4th quarter valued at about $1,092,000. Finally, JPMorgan Chase & Co. raised 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 acquiring an additional 697 shares during the last quarter. Institutional investors and hedge funds own 8.14% of the company’s stock.

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.