Short Interest in Associated Capital Group, Inc. (NYSE:AC) Decreases By 45.4%

Associated Capital Group, Inc. (NYSE:AC) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 8,300 shares, a decrease of 45.4% from the February 13th total of 15,200 shares. Based on an average daily volume of 4,900 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.4% of the company’s stock are short sold.

Institutional Trading of Associated Capital Group

Hedge funds have recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Associated Capital Group in the fourth quarter valued at approximately $1,092,000. Geode Capital Management LLC increased its stake in Associated Capital Group by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 23,049 shares of the financial services provider’s stock valued at $790,000 after purchasing an additional 1,135 shares during the last quarter. Northern Trust Corp increased its stake in Associated Capital Group by 17.6% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider’s stock valued at $630,000 after purchasing an additional 2,755 shares during the last quarter. Empowered Funds LLC purchased a new position in Associated Capital Group in the fourth quarter valued at approximately $149,000. Finally, JPMorgan Chase & Co. increased its stake in 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 purchasing an additional 697 shares during the last quarter. Institutional investors and hedge funds own 8.14% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Associated Capital Group from a “hold” rating to a “sell” rating in a research report on Friday, March 7th.

Associated Capital Group Trading Up 2.1 %

NYSE:AC traded up $0.74 during mid-day trading on Friday, hitting $35.62. The stock had a trading volume of 2,343 shares, compared to its average volume of 5,342. The stock has a 50-day simple moving average of $36.60 and a two-hundred day simple moving average of $35.88. The company has a market capitalization of $756.46 million, a PE ratio of 17.21 and a beta of 0.92. Associated Capital Group has a twelve month low of $28.58 and a twelve month high of $43.85.

Associated Capital Group (NYSE:AC) last issued its earnings results on Wednesday, February 5th. The financial services provider reported $0.20 earnings per share for the quarter. Associated Capital Group had a net margin of 336.45% and a return on equity of 4.88%.

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.