Welcome to our dedicated page for Associated Capital Group news (Ticker: $AC), a resource for investors and traders seeking the latest updates and insights on Associated Capital Group stock.
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Associated Capital Group, Inc. reported an increased first quarter book value with assets under management at $1.55 billion compared to $1.59 billion at the end of 2023. Book value per share ended the quarter at $42.80 per share, an increase from $42.11 at the end of 2023. The company's financial results for the first quarter of 2024 showed an operating loss before management fee, but positive investment and other non-operating income. Total revenues increased to $3.0 million from $2.5 million in the previous year. AC's alternative investment management strategy focuses on merger arbitrage, with a positive gross return of 1.33% in the first quarter of 2024. Global M&A activity saw a significant increase in the first quarter of 2024, with the US dominating deal making. AC plans to accelerate the use of capital through acquisitions and alliances, including launching a private equity business.