Short Interest in Associated Capital Group, Inc. (NYSE:AC) Declines By 21.8%

Associated Capital Group, Inc. (NYSE:AC) saw a significant decline in short interest in the month of October. As of October 15th, there was short interest totalling 16,100 shares, a decline of 21.8% from the September 30th total of 20,600 shares. Based on an average daily trading volume, of 6,700 shares, the days-to-cover ratio is currently 2.4 days. Currently, 0.7% of the company’s shares are sold short.

Associated Capital Group Trading Up 0.2 %

AC traded up $0.08 during trading on Wednesday, hitting $35.96. 6,934 shares of the company’s stock were exchanged, compared to its average volume of 6,281. The stock has a 50 day moving average price of $34.86 and a 200 day moving average price of $33.69. Associated Capital Group has a 1 year low of $28.58 and a 1 year high of $43.85. The firm has a market cap of $769.58 million, a P/E ratio of 23.10 and a beta of 0.88.

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

Associated Capital Group Increases Dividend

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

Institutional Trading of Associated Capital Group

Institutional investors have recently added to or reduced their stakes in the stock. OFI Invest Asset Management bought a new position in shares of Associated Capital Group during the second quarter worth about $1,244,000. Quent Capital LLC bought a new position in Associated Capital Group in the 1st quarter valued at about $222,000. Renaissance Technologies LLC grew its position 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 in the last quarter. Finally, Dynamic Advisor Solutions LLC grew its position in Associated Capital Group by 2.4% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock valued at $449,000 after buying an additional 298 shares in the last quarter. 8.14% of the stock is owned by institutional investors and hedge funds.

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.