Associated Capital Group (NYSE:AC) Trading Down 1.1% - Time to Sell?

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 stock price fell 1.1% on Tuesday . The stock traded as low as $36.56 and last traded at $36.58. 8,496 shares were traded during mid-day trading, an increase of 73% from the average session volume of 4,902 shares. The stock had previously closed at $36.99.

Wall Street Analysts Forecast Growth

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 Performance

The stock's fifty day moving average price is $37.37 and its 200-day moving average price is $36.71. The firm has a market cap of $773.30 million, a PE ratio of 14.46 and a beta of 0.57.

Associated Capital Group (NYSE:AC - Get Free Report) last posted 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 net margin of 451.70% and a return on equity of 5.98%.

Insider Activity

In other news, major shareholder Mario J. Gabelli bought 1,549 shares of Associated Capital Group stock in a transaction dated Wednesday, May 28th. The shares were acquired at an average cost of $43.45 per share, with a total value of $67,304.05. Following the completion of the transaction, the insider owned 27,152 shares in the company, valued at approximately $1,179,754.40. This trade represents a 6.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 88.73% of the company's stock.

Institutional Trading of Associated Capital Group

A hedge fund recently raised its stake in Associated Capital Group stock. Northern Trust Corp increased its stake in Associated Capital Group, Inc. (NYSE:AC - Free Report) by 17.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,375 shares of the financial services provider's stock after purchasing an additional 2,755 shares during the quarter. Northern Trust Corp owned about 0.09% of Associated Capital Group worth $630,000 at the end of the most recent quarter. 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.

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