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

Shares of Associated Capital Group, Inc. (NYSE:AC) gapped down prior to trading on Tuesday . The stock had previously closed at $35.36, but opened at $34.26. Associated Capital Group shares last traded at $34.26, with a volume of 184 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Associated Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, December 13th.

Associated Capital Group Stock Performance

The company has a market capitalization of $727.58 million, a PE ratio of 13.03 and a beta of 0.87. The company has a 50 day moving average price of $36.00 and a 200 day moving average price of $34.53.

Associated Capital Group Dividend Announcement

The business also recently announced a Semi-Annual dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a dividend yield of 0.6%. Associated Capital Group’s dividend payout ratio (DPR) is presently 7.60%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quent Capital LLC bought a new stake in shares of Associated Capital Group during the 3rd quarter valued at about $240,000. 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 valued at $776,000 after purchasing an additional 4,841 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 800 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Associated Capital Group by 11,616.7% in the 3rd 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 last quarter. Finally, Dynamic Advisor Solutions LLC boosted its position in Associated Capital Group by 2.4% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 298 shares during the period. 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.