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

Associated Capital Group, Inc. (NYSE:AC)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $35.51, but opened at $32.30. Associated Capital Group shares last traded at $33.89, with a volume of 11,748 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Associated Capital Group from a “sell” rating to a “hold” rating in a research report on Tuesday, March 18th.

Associated Capital Group Price Performance

The company has a fifty day moving average price of $36.88 and a 200 day moving average price of $36.27. The company has a market cap of $692.73 million, a PE ratio of 15.82 and a beta of 0.74.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AC. OFI Invest Asset Management bought a new position in shares of Associated Capital Group during the 4th quarter valued at $1,092,000. Geode Capital Management LLC grew 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 buying an additional 4,841 shares during the last quarter. Empowered Funds LLC purchased a new position in shares of Associated Capital Group in the fourth quarter worth about $149,000. Northern Trust Corp lifted its stake in shares of Associated Capital Group by 17.6% in the 4th quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider’s stock valued at $630,000 after acquiring an additional 2,755 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Associated Capital Group by 11,616.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 697 shares during the period. Institutional investors 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.