Associated Capital Group (NYSE:AC) Shares Gap Down - What's Next?

On Tuesday, shares of Associated Capital Group, Inc. (NYSE:AC) experienced a noticeable gap down in the stock market. Previously, the stock had closed at $36.74 but opened lower at $35.67. As of the last trading session, the stock was at $35.67 with a trading volume of 989 shares.

Recent Analyst Ratings

In the latest analysis, StockNews.com lowered the rating for Associated Capital Group from "buy" to "hold" in a research note released on Friday.

Performance Metrics of Associated Capital Group

The stock's 50-day simple moving average stands at $36.61, while the two-hundred-day simple moving average is at $34.46. The company boasts a market capitalization of $757.52 million, with a price-to-earnings (P/E) ratio of 13.56, and a beta of 0.87, indicating lower volatility compared to the market.

Dividend Announcement Details

The company has announced a semi-annual dividend, which will be distributed on Thursday, December 19th. Shareholders who are on record as of Thursday, December 5th, will receive a dividend of $0.10 per share, reflecting a dividend yield of 0.6%. Currently, Associated Capital Group's dividend payout ratio (DPR) is at 7.60%.

Institutional Investors' Involvement

Several institutional investors have recently adjusted their holdings in Associated Capital Group. Quent Capital LLC acquired a new position worth about $240,000 in the third quarter. Additionally, Dynamic Advisor Solutions LLC increased its stake by 2.4%, now holding 12,675 shares valued at $449,000 after an additional purchase of 298 shares. Geode Capital Management LLC raised its investment by 28.4%, now owning 21,914 shares worth $776,000 after buying another 4,841 shares. Renaissance Technologies LLC also boosted its holdings by 3.3%, owning 24,700 shares valued at $840,000 post an increase of 800 shares in the last quarter. Overall, hedge funds and institutional investors currently hold 8.14% of the company's stock.

About Associated Capital Group

Founded in 1976 and headquartered in Greenwich, Connecticut, Associated Capital Group, Inc. operates as an investment advisory firm in the United States. The company focuses on alternative investment management services and engages in a direct investment business along with investing in both new and existing enterprises.

Market Outlook and Investment Consideration

As investors analyze the latest developments surrounding Associated Capital Group, it is crucial to weigh these factors when considering investment activities. While the current rating among analysts is a "hold" for the stock, top analysts recommend considering alternative stocks that may present better potential for growth.

In summary, the gap down in shares marks a significant turn of events for Associated Capital Group (NYSE:AC), prompting both current and prospective investors to reevaluate their strategies moving forward.

Associated, Capital, Investment