Associated Capital Group (NYSE:AC) Stock Rating Lowered by Wall Street Zen

Associated Capital Group (NYSE:AC) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Associated Capital Group Stock Up 0.9%

AC stock opened at $38.03 on Thursday. The company has a 50-day simple moving average of $35.67 and a 200 day simple moving average of $36.07. The company has a market capitalization of $803.88 million, a P/E ratio of 18.37 and a beta of 0.61. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85.

Associated Capital Group (NYSE:AC) last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $0.36 EPS for the quarter. Associated Capital Group had a net margin of 336.45% and a return on equity of 4.88%.

Hedge Funds Weigh In On Associated Capital Group

Several hedge funds have recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Associated Capital Group in the 4th quarter worth approximately $1,092,000. Empowered Funds LLC bought a new stake in Associated Capital Group during the fourth quarter worth approximately $149,000. Geode Capital Management LLC boosted its holdings in Associated Capital Group by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 23,049 shares of the financial services provider’s stock worth $790,000 after buying an additional 1,135 shares in the last quarter. Northern Trust Corp grew its position in Associated Capital Group by 17.6% in the fourth quarter. Northern Trust Corp now owns 18,375 shares of the financial services provider’s stock worth $630,000 after buying an additional 2,755 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of 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 buying an additional 697 shares in the last quarter. 8.14% of the stock is currently 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.