Associated Capital Group (NYSE:AC) Stock Rating Lowered by StockNews.com

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

Associated Capital Group Price Performance

Associated Capital Group stock opened at $37.33 on Friday. The business has a 50 day simple moving average of $36.59 and a 200-day simple moving average of $34.44. Associated Capital Group has a 12 month low of $28.58 and a 12 month high of $43.85. The stock has a market capitalization of $792.89 million, a PE ratio of 14.19 and a beta of 0.87.

Hedge Funds Weigh In On Associated Capital Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new stake in shares of Associated Capital Group in the 2nd quarter valued at approximately $1,244,000. Renaissance Technologies LLC lifted its holdings in Associated Capital Group by 3.3% in the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after acquiring an additional 800 shares during the period. Quent Capital LLC purchased a new stake in shares of Associated Capital Group during the 3rd quarter worth $240,000. Dynamic Advisor Solutions LLC grew its stake in shares of 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 purchasing an additional 298 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of 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 purchasing an additional 4,841 shares in the last quarter. Institutional investors and hedge funds own 8.14% of the company’s stock.

Associated Capital Group Company Profile

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.