Associated Capital Group (NYSE:AC) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Associated Capital Group, Inc. (NYSE:AC)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $36.70 and traded as low as $35.84. Associated Capital Group shares last traded at $36.20, with a volume of 3,761 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Associated Capital Group from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th.

Associated Capital Group Trading Down 0.4 %

The company has a market cap of $768.78 million, a price-to-earnings ratio of 17.49 and a beta of 0.92. The company has a fifty day moving average price of $36.70 and a two-hundred day moving average price of $36.07.

Associated Capital Group (NYSE:AC) last announced its quarterly 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 net margin of 336.45% and a return on equity of 4.88%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in Associated Capital Group during the fourth quarter worth $1,092,000. Geode Capital Management LLC increased its position in shares of Associated Capital Group by 28.4% during 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. Empowered Funds LLC bought a new position in Associated Capital Group during the 4th quarter valued at about $149,000. Northern Trust Corp boosted its position in Associated Capital Group by 17.6% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider’s stock valued at $630,000 after buying an additional 2,755 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Associated Capital Group by 11,616.7% during the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after buying an additional 697 shares during the last quarter. Institutional investors and hedge funds 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.