Associated Capital Group (NYSE:AC) Shares Cross Below 50 Day Moving Average - Here's Why

Associated Capital Group, Inc. (NYSE:AC - Get Free Report)'s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Associated Capital Group from a "sell" rating to a "hold" rating in a research report on Tuesday, March 18th.

Associated Capital Group Trading Up 0.5 %

The stock has a market cap of $813.27 million, a PE ratio of 18.50 and a beta of 0.92. The company's 50 day moving average is $36.79 and its 200-day moving average is $36.09.

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

Institutional Trading of Associated Capital Group

A number of hedge funds have recently made changes to their positions in AC. JPMorgan Chase & Co. raised its holdings in Associated Capital Group by 11,616.7% in the third quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 697 shares in the last quarter. Empowered Funds LLC acquired a new stake in shares of Associated Capital Group in the 4th quarter valued at about $149,000. Northern Trust Corp lifted its position in shares of Associated Capital Group by 17.6% during the fourth quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider's stock worth $630,000 after purchasing an additional 2,755 shares during the last quarter. Geode Capital Management LLC grew its stake in Associated Capital Group by 28.4% in the third 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. Finally, OFI Invest Asset Management bought a new stake in Associated Capital Group in the fourth quarter valued at about $1,092,000. Institutional investors and hedge funds own 8.14% of the company's stock.

Remove Ads

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.