Short Interest in Associated Capital Group, Inc. (NYSE:AC) Expands By 16.4%

Associated Capital Group, Inc. (NYSE:AC) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totalling 20,600 shares, a growth of 16.4% from the September 15th total of 17,700 shares. Approximately 0.9% of the shares of the company are sold short. Based on an average daily volume of 6,700 shares, the short-interest ratio is presently 3.1 days.

Associated Capital Group Price Performance

Shares of NYSE:AC traded up $0.71 on Wednesday, reaching $38.67. The company’s stock had a trading volume of 5,292 shares, compared to its average volume of 5,762. Associated Capital Group has a 52-week low of $28.58 and a 52-week high of $40.61. The stock’s 50-day moving average is $33.97 and its two-hundred day moving average is $33.35. The stock has a market capitalization of $827.58 million, a P/E ratio of 24.95 and a beta of 0.88.

Associated Capital Group (NYSE:AC) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $2.60 million for the quarter. Associated Capital Group had a net margin of 246.48% and a return on equity of 3.65%.

Associated Capital Group Increases Dividend

The firm also recently announced a None dividend, which will be paid on Monday, November 4th. Shareholders of record on Monday, October 21st will be issued a $2.00 dividend. The ex-dividend date is Monday, October 21st. This is an increase from Associated Capital Group’s previous None dividend of $0.10. Associated Capital Group’s dividend payout ratio (DPR) is 12.90%.

Hedge Funds Weigh In On Associated Capital Group

A number of large investors have recently made changes to their positions in AC. OFI Invest Asset Management purchased a new position in Associated Capital Group in the 2nd quarter valued at approximately $1,244,000. Quent Capital LLC purchased a new position in shares of Associated Capital Group in the first quarter valued at $222,000. Renaissance Technologies LLC raised its stake in shares of 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 during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its stake in shares of 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 buying an additional 298 shares during the last quarter. Hedge funds and other institutional investors 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.