Horizon Kinetics Asset Management LLC Lowers Stock Position in Associated Capital Group, Inc. (NYSE:AC)

Horizon Kinetics Asset Management LLC cut its stake in shares of Associated Capital Group, Inc. (NYSE:AC) by 5.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 917,630 shares of the financial services provider’s stock after selling 57,498 shares during the period. Associated Capital Group accounts for approximately 0.4% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 24th biggest holding. Horizon Kinetics Asset Management LLC owned approximately 4.32% of Associated Capital Group worth $31,438,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in Associated Capital Group during the 4th quarter worth $1,092,000. Geode Capital Management LLC boosted its position 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 purchasing an additional 4,841 shares during the period. Empowered Funds LLC purchased a new stake in Associated Capital Group during the 4th quarter worth $149,000. Finally, JPMorgan Chase & Co. boosted its position 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 purchasing an additional 697 shares during the period. 8.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Associated Capital Group from a “hold” rating to a “sell” rating in a research report on Friday, March 7th.

Associated Capital Group Trading Up 2.1 %

Shares of Associated Capital Group stock opened at $35.62 on Monday. Associated Capital Group, Inc. has a twelve month low of $28.58 and a twelve month high of $43.85. The stock has a market cap of $756.46 million, a price-to-earnings ratio of 17.21 and a beta of 0.92. The company has a fifty day moving average price of $36.60 and a 200 day moving average price of $35.93.

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

Associated Capital Group Company Profile

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.