Short Interest in Associated Capital Group, Inc. (NYSE:AC) Grows By 15.3%

Associated Capital Group, Inc. (NYSE:AC) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 16,600 shares, a growth of 15.3% from the August 15th total of 14,400 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average trading volume of 7,600 shares, the short-interest ratio is currently 2.2 days.

Associated Capital Group Stock Performance

NYSE AC traded up $0.36 on Tuesday, hitting $33.65. The stock had a trading volume of 5,886 shares, compared to its average volume of 5,725. The firm has a 50-day moving average of $32.73 and a 200-day moving average of $33.01. Associated Capital Group has a 52-week low of $28.58 and a 52-week high of $37.40. The company has a market capitalization of $720.14 million, a price-to-earnings ratio of 21.71 and a beta of 0.88.

Associated Capital Group (NYSE:AC) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $2.60 million for the quarter. Associated Capital Group had a return on equity of 3.65% and a net margin of 246.48%.

Institutional Trading of Associated Capital Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in shares of Associated Capital Group by 3.3% during the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 800 shares during the last quarter. Quent Capital LLC bought a new stake in Associated Capital Group during the first quarter worth about $222,000. Finally, OFI Invest Asset Management purchased a new position in shares of Associated Capital Group in the 2nd quarter worth about $1,244,000. Hedge funds and other institutional investors own 8.14% of the company’s stock.

About Associated Capital Group

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.