Associated Capital Group (AC) Given News Impact Score of 0.16
Media stories about Associated Capital Group (NYSE:AC) have trended somewhat positive on Saturday, according to Accern Sentiment. The research firm ranks the sentiment of news coverage by reviewing more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Associated Capital Group earned a news impact score of 0.16 on Accern’s scale. Accern also assigned news articles about the financial services provider an impact score of 46.8569207042052 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
Shares of Associated Capital Group (AC) traded down 0.46% during midday trading on Friday, hitting $32.60. The stock had a trading volume of 12,133 shares. The stock’s 50 day moving average price is $33.40 and its 200 day moving average price is $34.90. Associated Capital Group has a 12 month low of $31.38 and a 12 month high of $39.35. The firm’s market cap is $777.97 million.
Associated Capital Group announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 3rd that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
Separately, ValuEngine cut Associated Capital Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.
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About Associated Capital Group
Associated Capital Group, Inc is a parent operating company for the spin-off of GAMCO Investors, Inc’s (GAMCO’s) alternative investment management business, institutional research services operations and certain cash and other assets. The Company, through its subsidiaries, provides alternative investment management services and institutional research services, as well as management of its investment portfolio.
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