Associated Capital Group (NYSE:AC) Sees Strong Trading Volume – Here’s Why

Shares of Associated Capital Group, Inc. (NYSE:AC) saw unusually-strong trading volume on Monday . Approximately 4,208 shares were traded during mid-day trading, a decline of 18% from the previous session’s volume of 5,123 shares.The stock last traded at $36.41 and had previously closed at $36.38.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Associated Capital Group from a “hold” rating to a “sell” rating in a research report on Friday, March 7th.

Associated Capital Group Stock Down 1.1 %

The firm has a 50 day moving average of $36.57 and a two-hundred day moving average of $35.88. The firm has a market capitalization of $743.72 million, a price-to-earnings ratio of 16.92 and a beta of 0.92.

Associated Capital Group (NYSE:AC) last released its quarterly earnings data 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 Trading of Associated Capital Group

A number of hedge funds have recently made changes to their positions in AC. JPMorgan Chase & Co. boosted its stake in shares of Associated Capital Group by 11,616.7% during the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 697 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Associated Capital Group in the fourth quarter worth approximately $149,000. Northern Trust Corp lifted its stake in shares of Associated Capital Group by 17.6% in the fourth 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 period. Geode Capital Management LLC lifted its stake in shares of 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 worth $776,000 after acquiring an additional 4,841 shares during the period. Finally, OFI Invest Asset Management acquired a new position in shares of Associated Capital Group in the fourth quarter worth approximately $1,092,000. 8.14% of the stock is owned by institutional investors and hedge funds.

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.