StockNews.com Upgrades Associated Capital Group (NYSE:AC) to Buy

Associated Capital Group (NYSE:AC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Associated Capital Group Price Performance

AC opened at $36.17 on Thursday. The firm has a market capitalization of $768.25 million, a P/E ratio of 13.75 and a beta of 0.87. The stock has a fifty day moving average of $36.49 and a 200-day moving average of $34.35. Associated Capital Group has a 12-month low of $28.58 and a 12-month high of $43.85.

Hedge Funds Weigh In On Associated Capital Group

Large investors have recently made changes to their positions in the business. OFI Invest Asset Management purchased a new position in Associated Capital Group during the second quarter valued at approximately $1,244,000. Quent Capital LLC acquired a new stake in shares of Associated Capital Group during the 3rd quarter valued at $240,000. Geode Capital Management LLC grew its holdings in shares of Associated Capital Group by 28.4% during the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after acquiring an additional 4,841 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Associated Capital Group by 3.3% in the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 800 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in shares of Associated Capital Group by 2.4% during the third quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 298 shares in the last quarter. 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.