Associated Capital Group (NYSE:AC) Sees Strong Trading Volume - Here's What Happened

Key Points

• Associated Capital Group's shares experienced a slight decline in trading volume, with 4,529 shares exchanged, down from 4,570 in the previous session.
• Wall Street Zen upgraded the stock from a "sell" rating to a "hold" rating, indicating a more favorable outlook.
• Insider trading activity showed major shareholder Mario J. Gabelli acquired 1,549 shares at an average cost of $43.45 each, increasing his stake by 6.05%.

Shares of Associated Capital Group, Inc. (NYSE:AC - Get Free Report) saw strong trading volume on Monday . 4,529 shares traded hands during mid-day trading, a decline of 1% from the previous session's volume of 4,570 shares.The stock last traded at $35.44 and had previously closed at $36.66.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Associated Capital Group from a "sell" rating to a "hold" rating in a research note on Saturday, May 31st.

Associated Capital Group Trading Down 1.5%

The firm's 50-day moving average price is $36.97 and its 200-day moving average price is $36.65. The stock has a market capitalization of $711.58 million, a PE ratio of 13.34 and a beta of 0.57.

Associated Capital Group (NYSE:AC - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $0.88 EPS for the quarter. Associated Capital Group had a return on equity of 5.98% and a net margin of 451.70%.

Insider Buying and Selling at Associated Capital Group

In related news, major shareholder Mario J. Gabelli purchased 1,549 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were bought at an average price of $43.45 per share, for a total transaction of $67,304.05. Following the acquisition, the insider owned 27,152 shares of the company's stock, valued at approximately $1,179,754.40. This represents a 6.05% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 88.73% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Associated Capital Group stock. Northern Trust Corp grew its holdings in shares of Associated Capital Group, Inc. (NYSE:AC - Free Report) by 17.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,375 shares of the financial services provider's stock after buying an additional 2,755 shares during the quarter. Northern Trust Corp owned 0.09% of Associated Capital Group worth $630,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.