Associated Cap Group Inc Stock Price, News & Analysis

Associated Capital Group reported its Q2 2021 results, revealing a net income of $29.7 million, down from $35.2 million in Q2 2020, with earnings per share at $1.34 compared to $1.57 the previous year. The company’s assets under management (AUM) reached $1.61 billion, up from $1.31 billion year-over-year. Despite an operating loss of $10.4 million, non-operating income was strong at $48.6 million. The book value per share increased to $42.21. Additionally, investment strategies showed positive returns, with merger arbitrage generating gross returns of 3.5% for Q2.

Associated Capital Group (AC) reported a second quarter preliminary book value increase to $42.10 to $42.30 per share, up from $41.22 on March 31, 2021. This marks a notable rise from $40.36 on December 31, 2020, and $38.09 on June 30, 2020. Additionally, assets under management reached $1.611 billion by June 30, 2021, compared to $1.305 billion a year earlier. The company intends to disclose further financial details in early August.

Associated Capital Group, Inc. (AC) highlights the Gabelli Value Plus⁺ Trust's (GVP) strong performance since opting against liquidation in July 2020. The Trust has achieved significant returns, with NAV of £1.75 and $2.46 as of 9/6/2021. The AC Board agreed to abstain from voting on the Trust’s continuation, recommending shareholders consider its future at the upcoming AGM. With the U.S. economic recovery, AC believes GVP is positioned for attractive risk-adjusted returns moving forward.

Associated Capital Group reported its Q1 2021 results, showing total Assets Under Management (AUM) of $1,495 million, up from $1,473 million in Q1 2020. Revenue decreased to $2,325 million compared to $2,962 million the previous year. The company recorded an operating loss of $6,365 million, significantly worse than the $640 million loss in Q1 2020. However, non-operating income turned positive at $30,681 million, contrasting sharply with the $(100,091 million) loss in the same quarter last year.

Associated Capital Group (“AC”) reported preliminary first-quarter book value between $41.10 and $41.30 per share, up from $40.36 at the end of 2020 and $36.61 a year prior. The increase is attributed to changes in mark-to-market values. Additionally, assets under management reached $1.495 billion, compared to $1.473 billion in March 2020. The company plans to release detailed financial results in early May 2021.

Associated Capital Group (NYSE:AC) has announced the appointment of Peter D. Goldstein as Chief Legal Officer and David M. Goldman as General Counsel and Director of Corporate Development, effective April 16, 2021. This leadership change follows the retirement of Kevin Handwerker, who served as General Counsel for six years. Goldstein brings extensive legal experience from GAMCO Investors and the SEC, while Goldman has been with GAMCO since 2011, previously serving at Deutsche Asset Management. Associated Capital focuses on alternative investment management and direct investment strategies.

Associated Capital Group, Inc. (AC) reported Q4 and full-year 2020 financial results, showcasing a net income of $51.1 million for Q4, significantly up from $11.0 million in Q4 2019. However, full-year net income fell to $18.8 million from $39.2 million the previous year. Assets under management declined to $1.35 billion, down from $1.72 billion in 2019, due to $450 million in redemptions. The company experienced operating losses of $12.5 million for the year but reported substantial non-operating income of $42.4 million. The book value per share rose to $40.36, reflecting a positive trend despite declines in revenues.

Associated Capital Group (AC) has released preliminary financial estimates for Q4 and the fiscal year ending December 31, 2020. The diluted EPS for Q4 is projected between $2.15 and $2.35, up from $0.48 in Q4 2019. For the full year, EPS is expected to be between $0.70 and $0.90, down from $1.74 in 2019. As of the end of 2020, AC's estimated book value is $40.15 to $40.45 per share, an increase from $39.88 a year earlier. Assets under management stand at $1.35 billion. Additional financial results will be disclosed in early February.

Associated Capital Group (NYSE:AC) has appointed Timothy H. Schott as Executive Vice President – Finance & Chief Financial Officer. Schott, a seasoned finance professional with three decades of experience, previously held significant roles at Deloitte & Touche and Lazard. His expertise includes financial reporting and tax compliance, which will enhance the firm's management team. President Doug Jamieson expressed confidence that Schott's joining aligns with the company's growth strategy.