S. Muoio & CO. LLC continued to hold its stake in shares of Associated Capital Group, Inc. (NYSE:AC) during the second quarter, Holdings Channel reports. The fund owned 55,183 shares of the financial services provider’s stock at the end of the second quarter. S. Muoio & CO. LLC’s holdings in Associated Capital Group were worth $1,876,000 at the end of the most recent reporting period.

Separately, Rice Hall James & Associates LLC increased its stake in shares of Associated Capital Group by 25.3% in the second quarter. Rice Hall James & Associates LLC now owns 78,300 shares of the financial services provider’s stock valued at $2,662,000 after buying an additional 15,793 shares in the last quarter. 71.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of Associated Capital Group, Inc. (NYSE AC) opened at 33.20 on Tuesday. The company has a 50-day moving average price of $33.48 and a 200 day moving average price of $34.96. Associated Capital Group, Inc. has a 52 week low of $31.12 and a 52 week high of $39.35. The stock’s market capitalization is $792.28 million.

Associated Capital Group declared that its board has authorized a stock buyback program on Thursday, August 3rd that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

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Separately, ValuEngine downgraded Associated Capital Group from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th.

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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Institutional Ownership by Quarter for Associated Capital Group (NYSE:AC)

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