Associated Capital Group (NYSE:AC) Sees Unusually-High Trading Volume – Time to Buy?

Associated Capital Group, Inc. (NYSE:AC) shares saw an uptick in trading volume on Thursday . 33,057 shares changed hands during trading, an increase of 433% from the previous session’s volume of 6,205 shares.The stock last traded at $36.71 and had previously closed at $36.33.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Associated Capital Group from a “buy” rating to a “hold” rating in a report on Tuesday.

Associated Capital Group Price Performance

The stock has a 50-day moving average price of $35.96 and a 200 day moving average price of $34.12. The company has a market cap of $779.12 million, a price-to-earnings ratio of 13.67 and a beta of 0.86.

Associated Capital Group Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, December 5th. This represents a dividend yield of 0.6%. Associated Capital Group’s payout ratio is presently 7.60%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of Associated Capital Group during the 2nd quarter worth approximately $1,244,000. Quent Capital LLC bought a new stake in Associated Capital Group during the first quarter worth $222,000. Geode Capital Management LLC lifted its stake in Associated Capital Group by 28.4% in the third quarter. Geode Capital Management LLC now owns 21,914 shares of the financial services provider’s stock valued at $776,000 after acquiring an additional 4,841 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of 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 acquiring an additional 800 shares during the period. Finally, Dynamic Advisor Solutions LLC increased its stake in shares of Associated Capital Group by 2.4% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 12,675 shares of the financial services provider’s stock worth $449,000 after purchasing an additional 298 shares during the last quarter. Institutional investors and hedge funds own 8.14% of the company’s stock.

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.