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Associated Capital Reports Estimated Fourth Quarter and Full Year Results

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Associated Capital Group, Inc. (AC) announced a preliminary range for its fourth quarter book value of $41.91 to $42.11 per share, compared to $41.43 per share at September 30, 2023 and $40.48 per share at December 31, 2022. AC will release further financial details in February.
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The preliminary range for Associated Capital Group's fourth-quarter book value indicates a sequential increase from the previous quarter and year-end values. This uptick suggests an improvement in the underlying assets or a possible appreciation in investment values. Stakeholders should consider this information as a positive signal regarding the company's financial health and asset management strategies.

However, it is crucial to analyze the drivers behind the increase. If the growth in book value is due to one-time events or non-recurring gains, investors should be cautious in extrapolating these results to future periods. Conversely, if the rise is attributed to operational efficiencies or sustainable investment strategies, it could imply a favorable outlook for the company's long-term performance.

Additionally, the market typically reacts to such preliminary figures, potentially affecting the stock price. Investors should monitor the stock's performance and the final detailed financial results in February for a comprehensive understanding of the company's financial position.

The communicated range for the fourth-quarter book value of Associated Capital Group provides early insights into the company's market position and valuation. A book value that is trending upward can be a sign of a company's resilience or strategic growth, which may influence investor sentiment and market dynamics.

It's important to contextualize these figures within the broader industry and economic environment. For instance, if the financial sector is experiencing a general upturn, AC's performance might be part of a larger trend. Conversely, if the sector is facing headwinds and AC's book value still shows improvement, this might indicate a competitive advantage or effective risk management.

Analysts and investors should await the full financial results to evaluate the specifics of the company's performance, including revenue streams, cost structures and potential impact on future earnings projections.

GREENWICH, Conn., Jan. 10, 2024 (GLOBE NEWSWIRE) -- Associated Capital Group, Inc. (“AC” or the “Company”) (NYSE: AC), announced today a preliminary range for its fourth quarter book value of $41.91 to $42.11 per share. This compares to $41.43 per share at September 30, 2023 and $40.48 per share at December 31, 2022.

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

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 did Associated Capital Group, Inc. (AC) announce regarding its fourth quarter book value?

AC announced a preliminary range for its fourth quarter book value of $41.91 to $42.11 per share.

When will AC release further financial details?

AC will release further financial details in February.

What was the book value per share at September 30, 2023?

The book value per share at September 30, 2023 was $41.43.

What was the book value per share at December 31, 2022?

The book value per share at December 31, 2022 was $40.48.

Associated Capital Group, Inc.

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