Associated Capital Group (NYSE:AC) Shares Down 1.1% - What's Next?

Key Points

• Associated Capital Group's stock price fell by 1.1% to $36.58, with significant trading volume increasing by 73% from the average session.
• Wall Street analysts have upgraded the stock from a "sell" to a "hold" rating, indicating potential stabilization in investor sentiment.
• Major shareholder Mario J. Gabelli increased his stake in the company by purchasing 1,549 shares, reflecting confidence in its future performance.

Associated Capital Group, Inc. (NYSE:AC - Get Free Report)'s share price was down 1.1% on Tuesday . The company traded as low as $36.56 and last traded at $36.58. Approximately 8,496 shares changed hands during trading, an increase of 73% from the average daily volume of 4,902 shares. The stock had previously closed at $36.99.

Analyst Ratings Changes

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 Stock Up 0.1%

The company has a market cap of $777.17 million, a P/E ratio of 14.57 and a beta of 0.57. The company's 50-day moving average is $37.31 and its two-hundred day moving average is $36.73.

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

Insiders Place Their Bets

In other Associated Capital Group news, major shareholder Mario J. Gabelli acquired 1,549 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was acquired at an average cost of $43.45 per share, with a total value of $67,304.05. Following the acquisition, the insider directly owned 27,152 shares of the company's stock, valued at $1,179,754.40. This represents a 6.05% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 88.73% of the company's stock.

Hedge Funds Weigh In On Associated Capital Group

An institutional investor recently raised its position in Associated Capital Group stock. Northern Trust Corp increased its holdings in 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 Securities and Exchange Commission. 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. Institutional investors 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.