Associated Capital Group Inc (NYSE:AC) Given Consensus Rating of “Buy” by Analysts

Shares of Associated Capital Group Inc (NYSE:AC) have been given an average rating of “Buy” by the eleven ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $49.75.

Several equities analysts have recently weighed in on the stock. CIBC lifted their target price on shares of Associated Capital Group from $54.00 to $58.00 in a research note on Wednesday, October 30th. Raymond James reaffirmed a “market perform” rating and set a $45.00 price objective on shares of Associated Capital Group in a research note on Wednesday, October 30th. Royal Bank of Canada boosted their price objective on shares of Associated Capital Group from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. TD Securities boosted their price objective on shares of Associated Capital Group from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, TheStreet cut shares of Associated Capital Group from a “c” rating to a “d+” rating in a research note on Thursday, August 8th.

In related news, major shareholder Mario J. Gabelli bought 3,316 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average cost of $34.63 per share, for a total transaction of $114,833.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mario J. Gabelli bought 1,836 shares of the company’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of $34.22 per share, with a total value of $62,827.92. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 25,472 shares of company stock valued at $263,529. 83.73% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Gamco Investors INC. ET AL lifted its position in Associated Capital Group by 85.2% during the third quarter. Gamco Investors INC. ET AL now owns 75,187 shares of the financial services provider’s stock valued at $2,676,000 after purchasing an additional 34,586 shares during the last quarter. Royal Bank of Canada lifted its position in Associated Capital Group by 43.4% during the second quarter. Royal Bank of Canada now owns 1,031 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 312 shares during the last quarter. Northern Trust Corp lifted its position in Associated Capital Group by 2.2% during the second quarter. Northern Trust Corp now owns 34,653 shares of the financial services provider’s stock valued at $1,296,000 after purchasing an additional 736 shares during the last quarter. Renaissance Technologies LLC lifted its position in Associated Capital Group by 45.3% during the second quarter. Renaissance Technologies LLC now owns 26,000 shares of the financial services provider’s stock valued at $972,000 after purchasing an additional 8,100 shares during the last quarter. Finally, Swiss National Bank lifted its position in Associated Capital Group by 6.5% during the second quarter. Swiss National Bank now owns 6,600 shares of the financial services provider’s stock valued at $247,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 11.86% of the company’s stock.

AC opened at $38.96 on Friday. The firm has a 50-day moving average price of $38.02 and a 200-day moving average price of $37.61. Associated Capital Group has a twelve month low of $32.12 and a twelve month high of $46.86.

Associated Capital Group (NYSE:AC) last posted its earnings results on Wednesday, August 7th. The financial services provider reported ($0.04) earnings per share for the quarter. The business had revenue of $4.82 million during the quarter. Associated Capital Group had a negative return on equity of 0.41% and a negative net margin of 111.98%.

Associated Capital Group Company Profile

Associated Capital Group, Inc provides investment advisory and asset management services in the United States. It offers alternative investment management, institutional research, and underwriting services. The company was founded in 2015 and is headquartered in Rye, New York.

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Analyst Recommendations for Associated Capital Group (NYSE:AC)

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