Short Interest in Associated Capital Group, Inc. (NYSE:AC) Declines by 45.4%

Associated Capital Group, Inc. (NYSE:AC - Get Free Report) experienced a significant reduction in short interest during February. As of February 28th, short interest totaled 8,300 shares, which reflects a decrease of 45.4% compared to the previous total of 15,200 shares from February 13th. Currently, about 0.4% of the company's total shares are being sold short. Based on an average daily trading volume of 4,900 shares, the short-interest ratio is now calculated at 1.7 days.

Revised Analyst Ratings

In recent news, StockNews.com has downgraded Associated Capital Group from a "hold" rating to a "sell" rating in a note released on March 7th.

Institutional Ownership Changes

Several large investors have adjusted their stakes in Associated Capital Group. In the fourth quarter, OFI Invest Asset Management acquired a new position in the company worth approximately $1,092,000. Geode Capital Management LLC increased its holdings by 28.4% in the third quarter, now owning 21,914 shares valued at $776,000, having purchased an additional 4,841 shares during that period. Empowered Funds LLC also entered a new position during the fourth quarter, valued around $149,000. Northern Trust Corp increased its stake by 17.6% in the same quarter, now holding 18,375 shares worth $630,000 after acquiring 2,755 more shares. Lastly, JPMorgan Chase & Co. surged its holdings in the third quarter by a remarkable 11,616.7%, currently owning 703 shares worth $25,000 after adding 697 shares in the last quarter. Overall, institutional investors own about 8.14% of the company's stock.

Recent Performance of Associated Capital Group

On Friday, shares of AC rose by $0.68, reaching a price of $35.56 during trading hours. The trading volume was at 1,580 shares, significantly lower than the average volume of 5,317 shares. Currently, the company has a 50-day moving average of $36.59 and a 200-day moving average of $35.87. It boasts a market capitalization of $755.27 million, a price-to-earnings ratio of 17.18, and a beta value of 0.92. Over the last year, the stock hit a low of $28.58 and a high of $43.85.

Quarterly Earnings Information

Associated Capital Group (NYSE:AC - Get Free Report) released its quarterly earnings data on February 5th. The financial services company reported an earnings per share (EPS) of $0.20 for the quarter. The net margin stood at a remarkable 336.45%, while the return on equity was at 4.88%.

Company Overview

Associated Capital Group, Inc. operates in the investment advisory sector within the United States. The company specializes in alternative investment management services and operates a direct investment business. It also engages in investments in new as well as existing businesses. Founded in 1976, Associated Capital Group is based in Greenwich, Connecticut.

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