Associated Capital Group (NYSE:AC) Upgraded by StockNews.com to “Hold” Rating

Associated Capital Group (NYSE:AC) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Tuesday.

Associated Capital Group Trading Up 2.9 %

Shares of NYSE AC opened at $36.08 on Tuesday. The firm’s 50-day moving average price is $36.61 and its 200-day moving average price is $35.96. The stock has a market capitalization of $766.23 million, a price-to-earnings ratio of 17.43 and a beta of 0.92. Associated Capital Group has a 12-month low of $28.58 and a 12-month high of $43.85.

Associated Capital Group (NYSE:AC) last posted its quarterly earnings data 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%.

Hedge Funds Weigh In On Associated Capital Group

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in 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 worth $25,000 after acquiring an additional 697 shares in the last quarter. Empowered Funds LLC bought a new position in shares of Associated Capital Group during the fourth quarter valued at approximately $149,000. Northern Trust Corp boosted its stake in shares of 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of Associated Capital Group by 28.4% during 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 bought a new position in shares of Associated Capital Group during the fourth quarter valued at approximately $1,092,000. 8.14% of the stock is currently owned by 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.