Associated Capital Reports Preliminary First Quarter Book Value of $41.10 to $41.30 Per Share

Rhea-AI Summary

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.

Positive

• Book value increased from $40.36 at December 31, 2020, to a range of $41.10 to $41.30.
• Assets under management rose to $1.495 billion from $1.473 billion year-over-year.

Negative

• None.

Associated Capital Group, Inc. (“AC” or the “Company”), announced today a range of its first quarter preliminary book value of $41.10 to $41.30 per share, driven largely by changes in mark-to-market values. This compares to $40.36 per share at December 31, 2020 and $36.61 at March 31, 2020.

Assets under management were $1.495 billion at March 31, 2021 as compared to $1.473 billion at March 31, 2020.

Associated Capital will be issuing further details on its financial results in early May.

About Associated Capital Group, Inc.

Associated Capital, based in Greenwich Connecticut, is a diversified global financial services company that provides alternative investment management through Gabelli & Company Investment Advisers, Inc. (“GCIA” f/k/a Gabelli Securities, Inc.). 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 three core pillars: Gabelli Private Equity Partners, LLC (“GPEP”), formed in August 2017 with $150 million of authorized capital as a “fund-less” sponsor; the SPAC business (Gabelli special purpose acquisition vehicles), launched in April 2018; and Gabelli Principal Strategies Group, LLC (“GPS”) created 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210421005538/en/

FAQ

What was the book value per share of Associated Capital Group for Q1 2021?

The preliminary book value per share for Q1 2021 is between $41.10 and $41.30.

How much did Associated Capital Group's assets under management grow by in Q1 2021?

Assets under management grew from $1.473 billion in March 2020 to $1.495 billion in March 2021.

When will Associated Capital Group release its detailed financial results?

Associated Capital Group plans to release detailed financial results in early May 2021.

How does the Q1 2021 book value compare to previous quarters?

The book value increased from $40.36 per share at December 31, 2020, and $36.61 per share at March 31, 2020.