Associated Capital Group (NYSE:AC) Shares Gap Down – What’s Next?

Shares of Associated Capital Group, Inc. (NYSE:AC) gapped down before the market opened on Tuesday . The stock had previously closed at $35.36, but opened at $34.26. Associated Capital Group shares last traded at $34.26, with a volume of 184 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Associated Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, December 13th.

Associated Capital Group Price Performance

The company has a market cap of $727.58 million, a price-to-earnings ratio of 13.03 and a beta of 0.87. The business’s fifty day moving average price is $36.05 and its 200 day moving average price is $34.53.

Associated Capital Group Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a dividend yield of 0.6%. Associated Capital Group’s payout ratio is 7.60%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Quent Capital LLC acquired a new position in shares of Associated Capital Group in the 3rd quarter valued at about $240,000. Geode Capital Management LLC increased its holdings 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 worth $776,000 after purchasing an additional 4,841 shares in the last quarter. Renaissance Technologies LLC lifted its stake in Associated Capital Group by 3.3% in the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after buying an additional 800 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Associated Capital Group by 11,616.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after buying an additional 697 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in shares of Associated Capital Group by 2.4% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock worth $449,000 after buying an additional 298 shares during the period. 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.