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

Associated Capital Group (NYSE:AC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Associated Capital Group Price Performance

Associated Capital Group stock opened at $36.19 on Friday. The stock has a market cap of $768.68 million, a price-to-earnings ratio of 13.76 and a beta of 0.87. The firm has a 50-day moving average of $35.71 and a two-hundred day moving average of $34.94. Associated Capital Group has a 1 year low of $28.58 and a 1 year high of $43.85.

Associated Capital Group (NYSE:AC) last released its quarterly earnings data on Friday, November 8th. The financial services provider reported $1.09 earnings per share for the quarter. Associated Capital Group had a return on equity of 6.21% and a net margin of 412.90%. The firm had revenue of $2.42 million during the quarter.

Institutional Investors Weigh In On Associated Capital Group

A number of hedge funds have recently made changes to their positions in AC. Renaissance Technologies LLC lifted its holdings 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 valued at $840,000 after purchasing an additional 800 shares during the last quarter. Geode Capital Management LLC increased its position in 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 buying an additional 4,841 shares in the last quarter. Dynamic Advisor Solutions LLC raised its stake 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. Quent Capital LLC acquired a new stake in Associated Capital Group in the third quarter worth about $240,000. Finally, Empowered Funds LLC purchased a new stake in shares of Associated Capital Group during the fourth quarter worth about $149,000. 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.