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

Associated Capital Group (NYSE:AC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

Associated Capital Group Trading Down 3.5 %

NYSE:AC traded down $1.31 during mid-day trading on Wednesday, hitting $36.19. The company had a trading volume of 9,516 shares, compared to its average volume of 6,307. The business has a fifty day simple moving average of $36.22 and a 200-day simple moving average of $34.24. Associated Capital Group has a 1 year low of $28.58 and a 1 year high of $43.85. The firm has a market capitalization of $768.68 million, a price-to-earnings ratio of 13.76 and a beta of 0.86.

Institutional Trading of Associated Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of AC. Dynamic Advisor Solutions LLC boosted its stake in Associated Capital Group by 2.4% in the third quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 298 shares during the period. Renaissance Technologies LLC raised its holdings in Associated Capital Group by 3.3% during the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after purchasing an additional 800 shares in the last quarter. Geode Capital Management LLC raised its holdings in Associated Capital Group by 28.4% during 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. Quent Capital LLC bought a new stake in Associated Capital Group during the first quarter worth approximately $222,000. Finally, OFI Invest Asset Management bought a new stake in Associated Capital Group during the second quarter worth approximately $1,244,000. 8.14% of the stock is owned by institutional investors.

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.