Associated Capital Group, Inc. (NYSE:AC) Sees Significant Growth in Short Interest

Associated Capital Group, Inc. (NYSE:AC) was the target of a large growth in short interest in February. As of February 15th, there was short interest totalling 15,200 shares, a growth of 92.4% from the January 31st total of 7,900 shares. Based on an average trading volume of 5,800 shares, the days-to-cover ratio is presently 2.6 days. Approximately 0.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Associated Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th.

Associated Capital Group Price Performance

Shares of AC traded up $0.16 on Friday, hitting $37.48. The company’s stock had a trading volume of 2,046 shares, compared to its average volume of 5,165. The company has a market capitalization of $795.86 million, a PE ratio of 18.10 and a beta of 0.88. Associated Capital Group has a fifty-two week low of $28.58 and a fifty-two week high of $43.85. The company has a 50 day moving average price of $36.40 and a 200 day moving average price of $35.66.

Associated Capital Group (NYSE:AC) last announced its earnings results on Wednesday, February 5th. The financial services provider reported $0.20 EPS for the quarter. Associated Capital Group had a return on equity of 4.88% and a net margin of 336.45%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AC. Geode Capital Management LLC lifted its holdings in Associated Capital Group by 28.4% during the 3rd quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock worth $776,000 after buying an additional 4,841 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Associated Capital Group by 11,616.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 703 shares of the financial services provider’s stock worth $25,000 after buying an additional 697 shares in the last quarter. Empowered Funds LLC acquired a new position in Associated Capital Group during the 4th quarter worth $149,000. OFI Invest Asset Management acquired a new position in Associated Capital Group during the 4th quarter worth $1,092,000. Finally, Northern Trust Corp lifted its holdings in Associated Capital Group by 17.6% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 8.14% of the company’s stock.

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.