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

StockNews.com upgraded shares of Associated Capital Group (NYSE:AC) from a sell rating to a hold rating in a research note released on Tuesday.

Associated Capital Group Stock Down 1.0 %

Shares of AC stock opened at $35.85 on Tuesday. The stock has a market cap of $761.35 million, a price-to-earnings ratio of 17.32 and a beta of 0.92. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The firm’s 50 day moving average price is $36.63 and its two-hundred day moving average price is $35.96.

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

Institutional Trading of Associated Capital Group

Hedge funds have recently made changes to their positions in the company. OFI Invest Asset Management purchased a new stake in shares of Associated Capital Group during the fourth quarter valued at approximately $1,092,000. Geode Capital Management LLC raised its stake 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 period. Empowered Funds LLC purchased a new stake in shares of Associated Capital Group during the fourth quarter valued at approximately $149,000. Northern Trust Corp raised its stake in shares of Associated Capital Group by 17.6% during the fourth quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 2,755 shares during the period. Finally, JPMorgan Chase & Co. raised 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 during the period. Hedge funds and other institutional investors 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.