Associated Capital Group (NYSE:AC) Shares Gap Up – Should You Buy?

Associated Capital Group, Inc. (NYSE:AC)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $37.96, but opened at $40.61. Associated Capital Group shares last traded at $37.06, with a volume of 1,357 shares.

Associated Capital Group Stock Up 2.1 %

The stock has a market capitalization of $829.07 million, a P/E ratio of 24.49 and a beta of 0.88. The firm has a 50 day simple moving average of $33.86 and a two-hundred day simple moving average of $33.31.

Associated Capital Group (NYSE:AC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $0.14 earnings per share for the quarter. Associated Capital Group had a net margin of 246.48% and a return on equity of 3.65%. The firm had revenue of $2.60 million for the quarter.

Associated Capital Group Increases Dividend

The business also recently announced a None dividend, which will be paid on Monday, November 4th. Stockholders of record on Monday, October 21st will be issued a $2.00 dividend. The ex-dividend date is Monday, October 21st. This is a positive change from Associated Capital Group’s previous None dividend of $0.10. Associated Capital Group’s dividend payout ratio (DPR) is currently 12.90%.

Institutional Trading of Associated Capital Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. OFI Invest Asset Management bought a new position in shares of Associated Capital Group during the 2nd quarter valued at approximately $1,244,000. Quent Capital LLC bought a new stake in shares of Associated Capital Group in the first quarter valued at $222,000. Renaissance Technologies LLC lifted its position in shares of Associated Capital Group by 3.3% during 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. Finally, Dynamic Advisor Solutions LLC grew its stake 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 acquiring an additional 298 shares during the period. 8.14% of the stock is owned by hedge funds and other institutional investors.

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.