Associated Capital Group (NYSE:AC) Shares Gap Down – Should You Sell?

Associated Capital Group, Inc. (NYSE:AC)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $35.45, but opened at $34.57. Associated Capital Group shares last traded at $35.88, with a volume of 863 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Associated Capital Group from a “buy” rating to a “hold” rating in a report on Friday, December 13th.

Associated Capital Group Trading Down 1.3 %

The firm has a fifty day moving average price of $36.51 and a 200 day moving average price of $34.50. The firm has a market capitalization of $750.94 million, a price-to-earnings ratio of 13.44 and a beta of 0.87.

Associated Capital Group Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quent Capital LLC acquired a new stake in Associated Capital Group in the 3rd quarter valued at about $240,000. Dynamic Advisor Solutions LLC increased its holdings in shares of Associated Capital Group by 2.4% in the third quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after purchasing an additional 298 shares in the last quarter. Geode Capital Management LLC raised its position in 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 purchasing an additional 4,841 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Associated Capital Group by 3.3% during the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after buying an additional 800 shares in the last quarter. Institutional investors and hedge funds 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.