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

Associated Capital Group (NYSE:AC – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Shares of NYSE AC traded down $0.17 during trading on Thursday, hitting $39.48. The company had a trading volume of 16,205 shares, compared to its average volume of 12,955. The stock has a fifty day simple moving average of $39.28 and a two-hundred day simple moving average of $40.74. Associated Capital Group has a fifty-two week low of $34.49 and a fifty-two week high of $47.50. The firm has a market capitalization of $870.30 million, a price-to-earnings ratio of 35.57 and a beta of 1.14.

In other Associated Capital Group news, major shareholder Gamco Investors, Inc. Et Al purchased 5,000 shares of the stock in a transaction that occurred on Tuesday, March 15th. The shares were purchased at an average cost of $26.75 per share, for a total transaction of $133,750.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders bought 19,500 shares of company stock worth $534,910. Company insiders own 85.38% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC boosted its position in Associated Capital Group by 205.7% during the third quarter. Barclays PLC now owns 703 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 473 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in Associated Capital Group during the first quarter worth about $52,000. BNP Paribas Arbitrage SA raised its stake in Associated Capital Group by 278.8% during the fourth quarter. BNP Paribas Arbitrage SA now owns 1,750 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,288 shares during the period. Bank of America Corp DE raised its stake in Associated Capital Group by 27.2% during the fourth quarter. Bank of America Corp DE now owns 2,756 shares of the financial services provider’s stock worth $119,000 after purchasing an additional 590 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Associated Capital Group by 107.5% during the fourth quarter. JPMorgan Chase & Co. now owns 2,805 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 1,453 shares during the period. Hedge funds and other institutional investors own 9.94% of the company’s stock.

Associated Capital Group Company Profile (Get Rating)

Associated Capital Group, Inc provides investment advisory services in the United States. The company offers alternative investment management and asset management services. It also invests in new and existing businesses. The company was founded in 1976 and is headquartered in Greenwich, Connecticut.

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