Associated Capital Group (NYSE:AC) Sees Large Volume Increase – Here’s What Happened

Associated Capital Group, Inc. (NYSE:AC) saw strong trading volume on Thursday . 33,057 shares traded hands during mid-day trading, an increase of 433% from the previous session’s volume of 6,205 shares.The stock last traded at $36.71 and had previously closed at $36.33.

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 Tuesday.

Associated Capital Group Trading Down 0.6 %

The company has a 50 day simple moving average of $36.04 and a 200 day simple moving average of $34.14. The stock has a market capitalization of $773.56 million, a PE ratio of 13.85 and a beta of 0.86.

Associated Capital Group Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.10 per share. This represents a yield of 0.6%. The ex-dividend date is Thursday, December 5th. Associated Capital Group’s payout ratio is 7.60%.

Hedge Funds Weigh In On Associated Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in Associated Capital Group during the 2nd quarter worth approximately $1,244,000. Renaissance Technologies LLC grew its holdings in shares of Associated Capital Group by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 800 shares during the period. Geode Capital Management LLC grew its holdings in shares of Associated Capital Group by 28.4% in the 3rd 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. Dynamic Advisor Solutions LLC grew its holdings in shares of Associated Capital Group by 2.4% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock worth $449,000 after acquiring an additional 298 shares during the period. Finally, Quent Capital LLC acquired a new stake in shares of Associated Capital Group in the 3rd quarter worth approximately $240,000. Institutional investors and hedge funds 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.