Associated Capital Group (NYSE:AC) Shares Gap Down – Here’s What Happened

Associated Capital Group, Inc. (NYSE:AC) shares gapped down before the market opened on Tuesday . The stock had previously closed at $36.74, but opened at $35.67. Associated Capital Group shares last traded at $35.67, with a volume of 989 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of 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 business has a 50-day simple moving average of $36.59 and a two-hundred day simple moving average of $34.47. The stock has a market cap of $759.44 million, a price-to-earnings ratio of 13.60 and a beta of 0.87.

Associated Capital Group Announces Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.10 dividend. This represents a yield of 0.6%. The ex-dividend date is Thursday, December 5th. Associated Capital Group’s dividend payout ratio (DPR) is presently 7.60%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC boosted its holdings in Associated Capital Group by 3.3% in the 2nd 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 period. Quent Capital LLC bought a new stake in shares of Associated Capital Group in the third quarter valued at approximately $240,000. Dynamic Advisor Solutions LLC increased its stake in 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 acquiring an additional 298 shares during the period. Finally, Geode Capital Management LLC raised its holdings in 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 valued at $776,000 after acquiring an additional 4,841 shares in the last quarter. Institutional investors and hedge funds own 8.14% of the company’s stock.

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.