Associated Capital Group (NYSE:AC) Shares Gap Down – Time to Sell?

Associated Capital Group, Inc. (NYSE:AC) gapped down prior to trading on Monday . The stock had previously closed at $35.45, but opened at $34.57. Associated Capital Group shares last traded at $35.88, with a volume of 863 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Associated Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, December 13th.

Associated Capital Group Price Performance

The stock has a market cap of $750.94 million, a price-to-earnings ratio of 13.44 and a beta of 0.87. The business has a fifty day moving average of $36.51 and a 200 day moving average of $34.50.

Associated Capital Group Announces Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a dividend yield of 0.6%. Associated Capital Group’s dividend payout ratio is currently 7.60%.

Hedge Funds Weigh In On Associated Capital Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in Associated Capital Group by 3.3% in the 2nd quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock valued at $840,000 after buying an additional 800 shares during the last quarter. Geode Capital Management LLC grew its holdings in 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 buying an additional 4,841 shares during the last quarter. Dynamic Advisor Solutions LLC increased its holdings 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, Quent Capital LLC bought a new stake in shares of Associated Capital Group in the 3rd quarter worth approximately $240,000. 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.