Associated Capital Group (NYSE:AC) Downgraded by StockNews.com to Hold

Associated Capital Group (NYSE:AC) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Associated Capital Group Stock Performance

AC opened at $36.97 on Friday. The company has a fifty day moving average price of $36.56 and a two-hundred day moving average price of $34.41. The firm has a market capitalization of $785.13 million, a PE ratio of 14.06 and a beta of 0.87. Associated Capital Group has a 52 week low of $28.58 and a 52 week high of $43.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AC. OFI Invest Asset Management acquired a new stake in shares of Associated Capital Group in the 2nd quarter valued at about $1,244,000. Renaissance Technologies LLC raised its position 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 buying an additional 800 shares during the last quarter. Geode Capital Management LLC lifted its stake 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. Dynamic Advisor Solutions LLC boosted its position 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 last quarter. Finally, Quent Capital LLC bought a new position in shares of Associated Capital Group during the 3rd quarter worth approximately $240,000. 8.14% of the stock is owned by institutional investors and hedge funds.

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.