Associated Capital Group (NYSE:AC) Sees Unusually-High Trading Volume

Associated Capital Group, Inc. (NYSE:AC) saw unusually-strong trading volume on Tuesday . Approximately 720 shares changed hands during mid-day trading, a decline of 89% from the previous session’s volume of 6,736 shares.The stock last traded at $39.60 and had previously closed at $39.24.

AC has been the subject of a number of recent research reports. BMO Capital Markets lifted their price objective on Associated Capital Group from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, July 26th. Royal Bank of Canada lowered Associated Capital Group to a “sector perform” rating and reduced their price objective for the company from $28.00 to $25.00 in a research note on Tuesday, October 5th. Finally, TheStreet lowered Associated Capital Group from a “b-” rating to a “c” rating in a research note on Friday, August 6th.

The firm has a market cap of $864.95 million, a PE ratio of 8.29 and a beta of 1.28. The stock has a 50 day simple moving average of $36.88 and a two-hundred day simple moving average of $36.85.

Associated Capital Group (NYSE:AC) last posted its earnings results on Thursday, August 5th. The financial services provider reported $1.34 EPS for the quarter. Associated Capital Group had a return on equity of 11.69% and a net margin of 560.55%. The firm had revenue of $2.49 million for the quarter.

In other news, major shareholder Associated Capital Group, Inc. sold 1,400 shares of the firm’s stock in a transaction dated Monday, September 27th. The stock was sold at an average price of $26.16, for a total transaction of $36,624.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 13,317 shares of company stock worth $364,132 over the last 90 days. Insiders own 85.38% of the company’s stock.

A number of hedge funds have recently bought and sold shares of AC. Royal Bank of Canada boosted its holdings in Associated Capital Group by 591.1% in the 1st quarter. Royal Bank of Canada now owns 28,646 shares of the financial services provider’s stock worth $1,028,000 after buying an additional 24,501 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Associated Capital Group by 24.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 58,478 shares of the financial services provider’s stock worth $2,272,000 after purchasing an additional 11,452 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Associated Capital Group by 4.6% during the 1st quarter. BlackRock Inc. now owns 164,976 shares of the financial services provider’s stock worth $5,916,000 after purchasing an additional 7,322 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Associated Capital Group during the 1st quarter worth approximately $270,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Associated Capital Group during the 2nd quarter worth approximately $238,000. Institutional investors own 9.94% of the company’s stock.

About Associated Capital Group (NYSE:AC)

Associated Capital Group, Inc provides alternative investment management, institutional research and underwriting services. The company was founded by Mario Gabelli in 1976 and is headquartered in Rye, NY.

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