Short Interest in Associated Capital Group, Inc. (NYSE:AC) Sees Dramatic Increase

Associated Capital Group, Inc. (NYSE:AC - Get Free Report) experienced a considerable rise in short interest during February. As of February 15th, total short interest reached 15,200 shares, marking an impressive growth of 92.4% compared to the 7,900 shares reported at the end of January. Approximately 0.7% of the company’s outstanding shares are currently sold short. With an average daily trading volume of 5,800 shares, the days-to-cover ratio is calculated to be 2.6 days.

Associated Capital Group Stock Performance

On February 24th, shares of NYSE AC increased by $0.16, closing at $37.48. During the trading session, 2,046 shares exchanged hands, a figure notably lower than the average volume of 5,165 shares. The firm's fifty-day moving average stands at $36.40 while the two-hundred-day moving average is $35.64. The stock has seen a low of $28.58 and a high of $43.85 over the past 12 months. Associated Capital Group boasts a market capitalization of $795.86 million, a price-to-earnings ratio of 18.10, and a beta of 0.88.

In its most recent earnings report dated February 5th, the company disclosed earnings of $0.20 per share (EPS) for the quarter, demonstrating a return on equity of 4.88% and an impressive net margin of 336.45%.

Changes in Analyst Ratings

On another note, StockNews.com has downgraded Associated Capital Group from a "hold" rating to a "sell" rating in a recent report issued on Tuesday.

Institutional Investors Take Action

Institutional investors have also adjusted their stakes in Associated Capital Group recently. For instance, JPMorgan Chase & Co. significantly increased its position in the company by a staggering 11,616.7% in the third quarter, bringing their total to 703 shares valued at $25,000 after acquiring an additional 697 shares. Empowered Funds LLC entered a new investment in the fourth quarter amounting to $149,000. Northern Trust Corp also raised its stake by 17.6% in the same period, owning now 18,375 shares worth $630,000 after adding 2,755 shares. Furthermore, Geode Capital Management LLC increased its shares by 28.4% during the third quarter, holding 21,914 shares valued at $776,000 after acquiring 4,841 shares. Lastly, OFI Invest Asset Management purchased a stake worth $1,092,000 in the fourth quarter. In total, hedge funds and other institutional investors own about 8.14% of the company's stock.

About Associated Capital Group

Associated Capital Group, Inc. provides investment advisory services within the United States through its subsidiaries. The company is involved in alternative investment management and operates a direct investment business, investing in both new and existing enterprises. Established in 1976, it's headquartered in Greenwich, Connecticut.

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