Associated Capital Group (NYSE:AC) Raised to Buy at StockNews.com

Associated Capital Group (NYSE:AC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Associated Capital Group Stock Performance

NYSE AC opened at $36.17 on Thursday. The company has a 50-day moving average price of $36.49 and a two-hundred day moving average price of $34.35. Associated Capital Group has a 52 week low of $28.58 and a 52 week high of $43.85. The stock has a market cap of $768.25 million, a price-to-earnings ratio of 13.75 and a beta of 0.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AC. OFI Invest Asset Management acquired a new position in Associated Capital Group during the second quarter worth about $1,244,000. Quent Capital LLC acquired a new position in shares of Associated Capital Group in the 3rd quarter worth approximately $240,000. Geode Capital Management LLC raised its holdings in shares of Associated Capital Group by 28.4% in the 3rd 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% during the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after purchasing an additional 800 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in Associated Capital Group by 2.4% during the third 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 in the last quarter. 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.