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

Shares of Associated Capital Group, Inc. (NYSE:AC) gapped down before the market opened on Tuesday . The stock had previously closed at $36.18, but opened at $35.05. Associated Capital Group shares last traded at $35.96, with a volume of 1,800 shares trading hands.

Analyst Ratings Changes

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

Associated Capital Group Price Performance

The firm has a market cap of $774.30 million, a P/E ratio of 13.86 and a beta of 0.87. The stock’s 50-day simple moving average is $35.75 and its two-hundred day simple moving average is $34.73.

Associated Capital Group (NYSE:AC) last posted its quarterly earnings data on Friday, November 8th. The financial services provider reported $1.09 earnings per share for the quarter. The business had revenue of $2.42 million for the quarter. Associated Capital Group had a net margin of 412.90% and a return on equity of 6.21%.

Associated Capital Group Dividend Announcement

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a $0.10 dividend. 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

Hedge funds have recently made changes to their positions in the stock. Quent Capital LLC bought a new position in Associated Capital Group during the 3rd quarter worth about $240,000. Geode Capital Management LLC grew its holdings in Associated Capital Group by 28.4% during 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 in the last quarter. Renaissance Technologies LLC grew 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 acquiring an additional 800 shares in the last quarter. JPMorgan Chase & Co. grew 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 worth $25,000 after acquiring an additional 697 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its holdings in Associated Capital Group by 2.4% during 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 in the last quarter. 8.14% of the stock is currently owned by 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.