AC Reports Preliminary June 30 Book Value of $42.75 to $42.95 Per Share

Rhea-AI Summary

Associated Capital Group (AC) announced a preliminary second-quarter book value range of $42.75 to $42.95 per share as of June 30, 2024. This shows a slight decrease from $42.80 at March 31, 2024, but an increase from $42.11 at December 31, 2023, and $41.41 at June 30, 2023. Detailed financial results will be released in August.

Positive

• Preliminary book value increased from $42.11 at December 31, 2023, to a range of $42.75 to $42.95.
• Book value rose from $41.41 at June 30, 2023, to the current range.

Negative

• Preliminary book value decreased marginally from $42.80 at March 31, 2024, to a range of $42.75 to $42.95.

Insights

Financial Analyst

The preliminary book value per share of $42.75 to $42.95 for Associated Capital Group showcases a slight but steady increase compared to the previous quarters: $42.80 at the end of March, $42.11 at the end of December and $41.41 at the same time last year. Despite a marginal increase, this persistence in growth hints at a stable financial position.

Book value per share is a important metric for investors as it represents the per-share value of a company's equity. It's determined by dividing total shareholders' equity by the number of outstanding shares. The fact that AC's book value is gradually increasing is a positive signal, indicating that the company's equity is growing over time, suggesting effective management of assets and liabilities.

However, the slight nature of the increase might suggest limited profitability or modest asset growth. Investors might need to await the detailed financial results in August to understand the drivers behind this book value and to get a clearer picture of the company's financial health and performance.

From a long-term perspective, the consistency in growth can be seen as a positive sign, demonstrating the company's resilience and steady operational performance. Nonetheless, potential investors should stay tuned for the detailed financial report, which will provide a comprehensive view of the company's earnings, expenses and overall financial trajectory.

GREENWICH, Conn., July 08, 2024 (GLOBE NEWSWIRE) -- Associated Capital Group, Inc. (“AC” or the “Company”) (NYSE:AC), announced today a preliminary range for its second quarter book value of $42.75 to $42.95 per share. This compares to $42.80 per share at March 31, 2024, $42.11 per share at December 31, 2023 and $41.41 per share at June 30, 2023.

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

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 book value per share for AC as of June 30, 2024?

The preliminary book value per share for AC as of June 30, 2024, ranges from $42.75 to $42.95.

How did AC's book value change from March 31, 2024, to June 30, 2024?

AC's preliminary book value decreased slightly from $42.80 on March 31, 2024, to a range of $42.75 to $42.95 on June 30, 2024.

What was AC's book value per share at December 31, 2023?

AC's book value per share was $42.11 at December 31, 2023.

When will AC release detailed financial results for Q2 2024?

AC will release detailed financial results for Q2 2024 in August.