STOCK TITAN

AC Reports Preliminary March 31 Book Value of $42.67 to $42.87 Per Share

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Associated Capital Group, Inc. (AC) reports a preliminary first-quarter book value range of $42.67 to $42.87 per share, showing growth from previous quarters. Further financial details will be released in May.
Positive
  • None.
Negative
  • None.

The preliminary book value range for Associated Capital Group indicates a sequential increase from the previous quarter and year-over-year. This increase suggests a strengthening of the company's underlying assets or a possible appreciation in investment portfolio values. Investors often look at book value as a metric to assess whether a stock is under or overvalued relative to its net asset value. A rising book value can be a positive signal, implying that the company is growing its intrinsic value.

However, it's essential to consider the drivers behind the book value increment. For instance, if the increase is due to a one-off event such as the sale of an asset, it may not be indicative of ongoing operational strength. Investors should await the detailed financial results to understand the full picture, including revenue streams and profitability metrics, which are important in evaluating the company's performance and future outlook.

The information provided by Associated Capital Group offers a glimpse into the company's financial health ahead of the full earnings report. The stock market typically reacts to such preliminary figures, as they help shape expectations. A positive trend in book value can often lead to bullish sentiment among investors, potentially driving up the stock price in anticipation of strong full-quarter financials.

It's important to note that while preliminary book value figures are insightful, they don't provide a complete view of the company's market position or competitive dynamics. Industry comparisons and broader market trends will also play a significant role in influencing investor perceptions and the stock's performance. The upcoming detailed financial results will be more telling, especially if they reveal trends in operational efficiency, cost management and revenue growth.

GREENWICH, Conn., April 05, 2024 (GLOBE NEWSWIRE) -- Associated Capital Group, Inc. (“AC” or the “Company”) (NYSE:AC), announced today a preliminary range for its first quarter book value of $42.67 to $42.87 per share. This compares to $42.11 per share at December 31, 2023 and $41.30 per share at March 31, 2023.

AC will be issuing further details on its financial results in May.

About Associated Capital Group, Inc.
Associated Capital Group, Inc. (NYSE: AC), based in Greenwich, Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA”). We have also earmarked proprietary capital for our direct investment business that invests in new and existing businesses. The direct investment business is developing along several core pillars including Gabelli Private Equity Partners, LLC (“GPEP”), formed in August 2017 with $150 million of authorized capital as a “fund-less” sponsor. We also created Gabelli Principal Strategies Group, LLC (“GPS”) in December 2015 to pursue strategic operating initiatives.

SPECIAL NOTE REGARDING FORWARD-LOOKING INFORMATION
Our disclosure and analysis in this press release contain “forward-looking statements”. Forward-looking statements convey our current expectations or forecasts of future events. You can identify these statements because they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning. They also appear in any discussion of future operating or financial performance. In particular, these include statements relating to future actions, future performance of our products, expenses, the outcome of any legal proceedings, and financial results. Although we believe that we are basing our expectations and beliefs on reasonable assumptions within the bounds of what we currently know about our business and operations, the economy and other conditions, there can be no assurance that our actual results will not differ materially from what we expect or believe. Therefore, you should proceed with caution in relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance.

  
Contact:Ian J. McAdams
Chief Financial Officer
(914) 921-5078
Associated-Capital-Group.com

FAQ

What is the preliminary first-quarter book value range per share for Associated Capital Group, Inc. (AC)?

Associated Capital Group, Inc. (AC) reported a preliminary range of $42.67 to $42.87 per share for the first quarter.

How does the first-quarter book value range for AC compare to the previous quarters?

The first-quarter book value range of $42.67 to $42.87 per share for AC shows growth from $42.11 per share at December 31, 2023, and $41.30 per share at March 31, 2023.

When will AC release further details on its financial results?

AC will issue further details on its financial results in May.

Associated Capital Group, Inc.

NYSE:AC

AC Rankings

AC Latest News

AC Stock Data

703.04M
2.46M
2.14%
69.43%
0.15%
Securities and Commodity Exchanges
Finance and Insurance
Link
United States of America
GREENWICH