Significant Drop in Short Interest for Associated Capital Group, Inc. (NYSE:AC)

Associated Capital Group, Inc. (NYSE:AC - Get Free Report) experienced a notable decline in short interest during February. As of February 28th, the total short interest stood at 8,300 shares, reflecting a significant decrease of 45.4% from the 15,200 shares reported on February 13th. This reduction indicates that approximately 0.4% of the company's stock is sold short. Considering an average trading volume of 4,900 shares, the current days-to-cover ratio is 1.7 days.

Analysts Adjust Ratings and Price Targets

In a separate development, StockNews.com revised its stance on Associated Capital Group, lowering its rating from "hold" to "sell" in a research note published on March 7th.

Institutional Investors and Trading Activity

Various institutional investors have recently modified their stakes in AC. Notably, OFI Invest Asset Management initiated a new position in Associated Capital Group during the fourth quarter, investing approximately $1,092,000. Geode Capital Management LLC enhanced its holdings by 28.4% in the third quarter and now possesses 21,914 shares worth about $776,000 after adding 4,841 shares. Empowered Funds LLC also entered a new position in the stock during the fourth quarter, amounting to approximately $149,000. Similarly, Northern Trust Corp increased its stake by 17.6% in the same quarter, bringing its total share count to 18,375, valued at $630,000 after acquiring an additional 2,755 shares. Additionally, JPMorgan Chase & Co. showed remarkable growth with a staggering increase of 11,616.7% in their position during the third quarter, resulting in ownership of 703 shares now valued at approximately $25,000. Overall, institutional investors currently hold about 8.14% of Associated Capital Group's stock.

Price Performance Analysis

During trading on Friday, shares of AC increased by $0.68 to reach $35.56. The trading volume was recorded at 1,580 shares, compared to an average of 5,317 shares. The company maintains a 50-day moving average of $36.59 and a 200-day moving average of $35.87. Currently, Associated Capital Group has a market capitalization of $755.27 million, a price-to-earnings ratio of 17.18, and a beta value of 0.92. Over the past year, the stock has recorded a low of $28.58 and a high of $43.85.

Earnings Report Insight

The last quarterly earnings report was released on February 5th, where Associated Capital Group announced an earnings per share (EPS) of $0.20. The company demonstrated a remarkable net margin of 336.45% and a return on equity of 4.88%.

Company Overview

Associated Capital Group, Inc., along with its subsidiaries, is engaged in providing investment advisory services in the United States. The firm specializes in alternative investment management and operates a direct investment business, investing in both new and existing ventures. Established in 1976, it is headquartered in Greenwich, Connecticut.

Stocks, Finance, Investment