Significant Drop in Short Interest for Associated Capital Group, Inc. (NYSE:AC)

Associated Capital Group, Inc. (NYSE:AC) experienced a notable decline in short interest during February. As of February 28th, the total short interest decreased to 8,300 shares, representing a substantial drop of 45.4% from the 15,200 shares reported on February 13th. Currently, about 0.4% of the company's shares are sold short. With an average trading volume of 4,900 shares, the ratio of days to cover the short interest stands at approximately 1.7 days.

Analysts Update Equities

In a separate analysis, StockNews.com has downgraded Associated Capital Group from a "hold" rating to a "sell" rating, as noted in a research update on March 7th.

Investor Activities in Associated Capital Group

Recently, several institutional investors have made changes to their holdings in AC. OFI Invest Asset Management took a new stake in Associated Capital Group worth approximately $1,092,000 in the fourth quarter. Geode Capital Management LLC increased its holdings by 28.4% during the third quarter, now owning 21,914 shares valued at around $776,000 following the acquisition of an additional 4,841 shares. Empowered Funds LLC also acquired a new position in the fourth quarter estimated at about $149,000. Additionally, Northern Trust Corp raised its stake by 17.6%, currently holding 18,375 shares worth $630,000 after adding 2,755 shares last quarter. Lastly, JPMorgan Chase & Co. significantly escalated its position by 11,616.7% in the third quarter, now possessing 703 shares worth about $25,000 after buying an extra 697 shares. Overall, institutional investors hold approximately 8.14% of Associated Capital Group's total stock.

Performance of Associated Capital Group Stock

The shares of AC traded at $35.56, increasing by $0.68 during the trading session on Friday, with a total trading volume of 1,580 shares compared to its average volume of 5,317. The 50-day moving average of the stock is $36.59, while the 200-day moving average is $35.87. The company's market capitalization stands at $755.27 million, with a price-to-earnings (P/E) ratio of 17.18 and a beta of 0.92. Throughout the past year, Associated Capital Group has reached a low of $28.58 and a high of $43.85.

About Associated Capital Group

Associated Capital Group, Inc., along with its subsidiaries, provides investment advisory services in the United States. The firm offers alternative investment management and also engages in direct investments in new and existing businesses. Established in 1976, the company is headquartered in Greenwich, Connecticut.

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