Associated Capital Group (NYSE:AC) Shares Cross Below 50 Day Moving Average – Here’s Why

Shares of Associated Capital Group, Inc. (NYSE:AC) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $36.70 and traded as low as $35.84. Associated Capital Group shares last traded at $36.20, with a volume of 3,761 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Associated Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th.

Associated Capital Group Trading Up 2.2 %

The firm’s 50 day moving average price is $36.79 and its 200-day moving average price is $36.09. The company has a market cap of $805.73 million, a P/E ratio of 18.33 and a beta of 0.92.

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

Institutional Investors Weigh In On Associated Capital Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Associated Capital Group by 11,616.7% during the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after buying an additional 697 shares during the last quarter. Empowered Funds LLC bought a new position in Associated Capital Group during the 4th quarter worth approximately $149,000. Northern Trust Corp grew its holdings in Associated Capital Group by 17.6% during 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 period. Geode Capital Management LLC increased its stake in 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 purchasing an additional 4,841 shares in the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Associated Capital Group in the fourth quarter worth $1,092,000. Institutional investors own 8.14% of the company’s stock.

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.