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

Associated Capital Group, Inc. (NYSE:AC) was the target of a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 8,300 shares, a decline of 45.4% from the February 13th total of 15,200 shares. Based on an average trading volume of 4,900 shares, the short-interest ratio is presently 1.7 days. Currently, 0.4% of the shares of the company are sold short.

Associated Capital Group Stock Performance

Shares of AC traded up $0.74 during trading hours on Friday, hitting $35.62. The stock had a trading volume of 2,343 shares, compared to its average volume of 5,342. The firm has a 50-day moving average price of $36.60 and a 200 day moving average price of $35.88. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The firm has a market capitalization of $756.46 million, a price-to-earnings ratio of 17.21 and a beta of 0.92.

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Associated Capital Group

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its holdings 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 purchasing an additional 697 shares during the period. Empowered Funds LLC purchased a new stake in shares of Associated Capital Group in the fourth quarter valued at about $149,000. Northern Trust Corp grew its holdings in shares of 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 period. Geode Capital Management LLC grew its holdings 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 purchasing an additional 4,841 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Associated Capital Group in the fourth quarter valued at about $1,092,000. Hedge funds and other 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.