Associated Capital Group, Inc. (NYSE:AC) Sees Large Growth in Short Interest

Associated Capital Group, Inc. (NYSE:AC) was the target of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 20,600 shares, an increase of 16.4% from the September 15th total of 17,700 shares. Based on an average trading volume of 6,700 shares, the days-to-cover ratio is presently 3.1 days. Currently, 0.9% of the shares of the company are sold short.

Associated Capital Group Stock Up 1.9 %

Shares of AC traded up $0.71 during mid-day trading on Wednesday, hitting $38.67. 5,292 shares of the company’s stock were exchanged, compared to its average volume of 5,762. The firm has a market cap of $827.58 million, a price-to-earnings ratio of 25.11 and a beta of 0.88. The stock’s 50-day simple moving average is $33.86 and its 200-day simple moving average is $33.31. Associated Capital Group has a 52 week low of $28.58 and a 52 week high of $40.61.

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

Associated Capital Group Increases Dividend

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

Institutional Investors Weigh In On Associated Capital Group

A number of large investors have recently bought and sold shares of AC. OFI Invest Asset Management acquired a new position in shares of Associated Capital Group during the 2nd quarter worth $1,244,000. Quent Capital LLC bought a new position in Associated Capital Group in the first quarter valued at about $222,000. Renaissance Technologies LLC raised its stake in Associated Capital Group by 3.3% during the second quarter. Renaissance Technologies LLC now owns 24,700 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 800 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of Associated Capital Group by 2.4% in the third 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 last quarter. 8.14% of the stock is currently owned by institutional investors and hedge funds.

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.