Associated Capital Group (NYSE:AC) Cut to “Sell” at StockNews.com

StockNews.com lowered shares of Associated Capital Group (NYSE:AC) from a hold rating to a sell rating in a report published on Friday morning.

Associated Capital Group Stock Up 3.6 %

Shares of Associated Capital Group stock opened at $37.82 on Friday. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The firm has a market cap of $803.18 million, a PE ratio of 18.27 and a beta of 0.92. The business’s fifty day moving average is $36.54 and its two-hundred day moving average is $35.84.

Associated Capital Group (NYSE:AC) last issued 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 return on equity of 4.88% and a net margin of 336.45%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in AC. JPMorgan Chase & Co. raised its position in shares of Associated Capital Group by 11,616.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after buying an additional 697 shares during the period. Empowered Funds LLC purchased a new position in shares of Associated Capital Group in the 4th quarter worth $149,000. Northern Trust Corp raised its position 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 worth $630,000 after buying an additional 2,755 shares during the period. Geode Capital Management LLC raised its position 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 buying an additional 4,841 shares during the period. Finally, OFI Invest Asset Management purchased a new position in shares of Associated Capital Group in the 4th quarter worth $1,092,000. 8.14% of the stock is 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.