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

Associated Capital Group (NYSE:AC) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Associated Capital Group Trading Down 3.5 %

NYSE:AC traded down $1.31 during trading hours on Wednesday, hitting $36.19. 9,516 shares of the stock traded hands, compared to its average volume of 6,307. The firm has a 50 day moving average price of $36.22 and a 200 day moving average price of $34.24. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The firm has a market cap of $768.68 million, a price-to-earnings ratio of 13.76 and a beta of 0.86.

Institutional Trading of Associated Capital Group

Several large investors have recently added to or reduced their stakes in AC. OFI Invest Asset Management purchased a new stake in shares of Associated Capital Group during the second quarter worth $1,244,000. Quent Capital LLC purchased a new stake in shares of Associated Capital Group during the first quarter worth $222,000. Renaissance Technologies LLC raised its holdings in shares of 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 worth $840,000 after acquiring an additional 800 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position 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 during the last quarter. Finally, Geode Capital Management LLC increased its position in 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 worth $776,000 after buying an additional 4,841 shares during the last quarter. 8.14% of the stock is owned by institutional investors and hedge funds.

Associated Capital Group Company Profile

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.