Associated Capital Group (NYSE:AC) Shares Down 4.3% – Time to Sell?

Shares of Associated Capital Group, Inc. (NYSE:AC) were down 4.3% on Friday . The stock traded as low as $38.32 and last traded at $38.21. Approximately 3,973 shares were traded during trading, a decline of 16% from the average daily volume of 4,743 shares. The stock had previously closed at $39.94.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Associated Capital Group in a research report on Saturday, February 8th. They set a “hold” rating on the stock.

Associated Capital Group Stock Performance

The company has a 50 day moving average of $35.88 and a 200 day moving average of $35.23. The stock has a market capitalization of $848.33 million, a price-to-earnings ratio of 19.29 and a beta of 0.88.

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

Hedge Funds Weigh In On Associated Capital Group

A number of institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Associated Capital Group by 11,616.7% in the 3rd 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. Empowered Funds LLC purchased a new stake in Associated Capital Group in the 4th quarter valued at about $149,000. Geode Capital Management LLC lifted its position 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 buying an additional 4,841 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Associated Capital Group in the fourth quarter valued at about $1,092,000. 8.14% of the stock is owned by hedge funds and other institutional investors.

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.