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

StockNews.com lowered shares of Associated Capital Group (NYSE:AC) from a hold rating to a sell rating in a research note published on Monday morning.

A number of other research firms have also commented on AC. Citigroup set a $26.00 price objective on shares of Associated Capital Group in a research note on Friday, May 19th. Scotiabank reaffirmed an outperform rating and issued a $31.00 price objective on shares of Associated Capital Group in a research note on Friday, July 7th.

Associated Capital Group Trading Up 0.1 %

Shares of NYSE:AC opened at $37.15 on Monday. The firm has a 50 day moving average of $36.49 and a 200-day moving average of $36.59. The stock has a market capitalization of $805.78 million, a PE ratio of 44.76 and a beta of 1.06. Associated Capital Group has a 12 month low of $31.01 and a 12 month high of $42.97.

Associated Capital Group (NYSE:AC) last released its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.15 earnings per share (EPS) for the quarter. The business had revenue of $2.38 million during the quarter. Associated Capital Group had a net margin of 122.37% and a return on equity of 2.05%.

Insider Activity

In other news, major shareholder Gamco Investors, Inc. Et Al purchased 800 shares of Associated Capital Group stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average cost of $41.91 per share, for a total transaction of $33,528.00. Following the transaction, the insider now directly owns 22,800 shares of the company’s stock, valued at $955,548. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 85.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AC. Bank of America Corp DE boosted its position in Associated Capital Group by 41.2% during the first quarter. Bank of America Corp DE now owns 5,223 shares of the financial services provider’s stock valued at $193,000 after buying an additional 1,525 shares during the period. Deutsche Bank AG boosted its position in Associated Capital Group by 13.5% during the first quarter. Deutsche Bank AG now owns 2,576 shares of the financial services provider’s stock valued at $95,000 after buying an additional 306 shares during the period. JPMorgan Chase & Co. boosted its position in Associated Capital Group by 33.8% during the fourth quarter. JPMorgan Chase & Co. now owns 1,457 shares of the financial services provider’s stock valued at $61,000 after buying an additional 368 shares during the period. FMR LLC boosted its position in Associated Capital Group by 23.8% during the first quarter. FMR LLC now owns 1,464 shares of the financial services provider’s stock valued at $54,000 after buying an additional 281 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Associated Capital Group by 7,613.3% during the fourth quarter. Wells Fargo & Company MN now owns 1,157 shares of the financial services provider’s stock valued at $49,000 after buying an additional 1,142 shares during the period. 8.63% of the stock is currently owned by hedge funds and other 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 and asset management services. It also invests in new and existing businesses. The company was founded in 1976 and is headquartered in Greenwich, Connecticut.