Associated Capital Group (NYSE:AC) Raised to Buy at StockNews.com

Associated Capital Group (NYSE:AC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Associated Capital Group Stock Up 4.8 %

Shares of NYSE AC traded up $1.68 during mid-day trading on Thursday, reaching $36.46. 7,156 shares of the company were exchanged, compared to its average volume of 4,504. The stock has a market cap of $774.30 million, a price-to-earnings ratio of 13.86 and a beta of 0.87. Associated Capital Group has a 1 year low of $28.58 and a 1 year high of $43.85. The firm has a 50-day moving average of $35.75 and a 200 day moving average of $34.73.

Associated Capital Group (NYSE:AC) last released its quarterly earnings results on Friday, November 8th. The financial services provider reported $1.09 EPS for the quarter. Associated Capital Group had a return on equity of 6.21% and a net margin of 412.90%. The company had revenue of $2.42 million during the quarter.

Institutional Trading of Associated Capital Group

A number of institutional investors have recently made changes to their positions in AC. Quent Capital LLC purchased a new stake in Associated Capital Group in the third quarter valued at $240,000. Geode Capital Management LLC grew its stake in shares of Associated Capital Group by 28.4% in the third quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after buying an additional 4,841 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Associated Capital Group by 3.3% in the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after buying an additional 800 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Associated Capital Group by 11,616.7% in the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock valued at $25,000 after buying an additional 697 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of Associated Capital Group by 2.4% in the third quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after buying an additional 298 shares in the last quarter. 8.14% of the stock is owned by institutional investors and hedge funds.

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.