Associated Capital Group (NYSE:AC) Shares Gap Up to $35.80

Shares of Associated Capital Group, Inc. (NYSE:AC – Get Rating) gapped up before the market opened on Wednesday . The stock had previously closed at $35.80, but opened at $36.77. Associated Capital Group shares last traded at $36.77, with a volume of 156 shares.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Associated Capital Group in a report on Thursday. They set a “hold” rating on the stock.

Associated Capital Group Stock Up 1.5 %

The stock has a fifty day moving average of $37.22 and a 200-day moving average of $39.11. The stock has a market cap of $816.57 million, a PE ratio of -16.71 and a beta of 1.07.

Associated Capital Group (NYSE:AC – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter. Associated Capital Group had a negative return on equity of 5.47% and a negative net margin of 321.17%. The firm had revenue of $7.54 million for the quarter.

Insider Buying and Selling

In other news, major shareholder Gamco Investors, Inc. Et Al acquired 7,200 shares of Associated Capital Group stock in a transaction that occurred on Wednesday, December 28th. The stock was purchased at an average price of $32.58 per share, for a total transaction of $234,576.00. Following the completion of the transaction, the insider now directly owns 20,000 shares in the company, valued at $651,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 8,700 shares of company stock valued at $283,360 over the last quarter. 85.72% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Associated Capital Group

A number of hedge funds have recently added to or reduced their stakes in the company. UBS Group AG lifted its position in shares of Associated Capital Group by 64.2% during the 4th quarter. UBS Group AG now owns 1,036 shares of the financial services provider’s stock valued at $44,000 after acquiring an additional 405 shares during the period. Wells Fargo & Company MN lifted its position in shares of Associated Capital Group by 7,613.3% during the 4th quarter. Wells Fargo & Company MN now owns 1,157 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 1,142 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Associated Capital Group by 33.8% during the 4th quarter. JPMorgan Chase & Co. now owns 1,457 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 368 shares during the period. Bank of America Corp DE lifted its position in shares of Associated Capital Group by 45.4% during the 4th quarter. Bank of America Corp DE now owns 3,698 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 1,155 shares during the period. Finally, Citadel Advisors LLC acquired a new stake in shares of Associated Capital Group during the 2nd quarter valued at approximately $218,000. Institutional investors and hedge funds own 9.73% of the company’s stock.

About Associated Capital Group

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Associated Capital Group, Inc operates as a holding company. It provides alternative investment management services and operates a direct investment business that invests in new and existing businesses. The firm primarily manage assets in equity event-driven strategies and across a range of risk and event arbitrage portfolios.