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.
Associated Capital Group, Inc. (NYSE: AC) is a distinguished global financial services company headquartered in Greenwich, Connecticut. Founded in 1976, the company specializes in providing alternative investment management and underwriting services, asset management, and institutional research services. Through its subsidiary, Gabelli & Company Investment Advisers, Inc. (GCIA), formerly Gabelli Securities, Inc., Associated Capital offers a broad spectrum of investment services, including institutional research aimed at hedge funds, asset managers, affiliated mutual funds, and managed accounts.
Associated Capital Group operates multiple business lines including Gabelli Private Equity Partners, LLC (GPEP) and Gabelli Principal Strategies Group, LLC (GPS). GPEP, established in August 2017 with $150 million in authorized capital, is a 'fund-less' sponsor focused on private equity investments. GPS, launched in December 2015, pursues strategic operational initiatives aimed at optimizing business growth and development.
The firm's alternative investment strategy centers on merger arbitrage, a methodology focused on generating returns that are not correlated with general market movements. This strategy is offered through various structures including partnerships and offshore corporations serving both accredited and institutional investors. Notably, Gabelli Merger Plus+ Trust Plc, listed on the London Stock Exchange, also falls under this strategy.
Recent financial results indicate a robust performance, with assets under management (AUM) reaching $1.55 billion as of March 31, 2024. The company reported a book value per share of $42.80, up from $41.30 a year earlier. For the first quarter of 2024, Associated Capital recorded revenues of $3.0 million and a net income of $13.8 million.
Associated Capital is also well-known for its Shareholder Designated Charitable Contribution (SDCC) program, which has allowed shareholders to direct approximately $38 million to over 190 different charities since the company's inception as a public entity. This initiative underscores the firm’s commitment to corporate social responsibility.
In addition to its financial and investment services, Associated Capital is committed to leveraging its research and investment capabilities through acquisitions and alliances, broadening its product offerings, and adding new sources of distribution. The company also conducts direct investments in operating businesses, employing a variety of techniques and structures to achieve its strategic objectives.
For more detailed and up-to-date information, visit the official website or contact:
Douglas R. Jamieson, Chief Executive Officer
(203) 629-9595
info@associated-capital-group.com
Associated Capital Group (AC) has extended the record date for its Shareholder Designated Charitable Contribution (SDCC) program to January 18, 2023, allowing shareholders more time to register for the program. The previous record date was December 31, 2022. To date, AC shareholders have contributed approximately $34 million to over 160 charities since the program began. A charitable contribution form will be distributed in late January, with a deadline for return set for February 28, 2023.
The Board of Associated Capital Group (NYSE: AC) has approved a $0.15 per share Shareholder Designated Charitable Contribution (SDCC) for registered Class A and Class B shareholders. Shareholders must register shares by December 31, 2022, to participate. The total contribution is estimated at $3.3 million based on approximately 22 million shares outstanding. Since its public inception, AC has donated around $34 million to over 160 charities. The company focuses on alternative investment management and direct investments across various sectors.
Associated Capital Group (AC) reported a third-quarter loss of $16.5 million, or $0.75 per share, significantly down from a profit of $1.5 million last year. Total revenues rose to $2.56 million, driven by higher average AUM of $1.75 billion. However, the operating loss reached $3.13 million, and net investment losses ballooned to $17.79 million. The book value per share dropped to $39.96 from $42.24 a year prior. AC's charitable contributions totaled over $34 million since its spin-off, with a $3.3 million allocation approved for shareholders in 2022.
Associated Capital Group (AC) reported preliminary book values for September 30 at $39.81 to $40.01 per share, a decrease from $40.30 as of June 30, 2022. Comparatively, the book values were $42.48 at December 31, 2021, and $42.24 at September 30, 2021. The company’s assets under management grew to $1.75 billion as of September 30, 2022, up from $1.68 billion a year earlier. Further financial details are expected in early November.
Associated Capital Group, Inc. (AC) reported its Q2 2022 financial results with revenues of $2.5 million, up 2.3% year-over-year. However, the company faced a net loss of $29.9 million, contrasting with a profit of $29.7 million in Q2 2021. Assets Under Management (AUM) increased to $1.80 billion, driven by $81 million in net inflows. Book value per share fell to $40.30 from $42.21 year-over-year. The quarter reflected continued market volatility affecting performance, with significant declines in investment income.
GAMCO Investors has established an Office of the CEO and appointed Doug Jamieson as co-CEO alongside Mario Gabelli. With over 40 years at GAMCO, Jamieson has held various pivotal roles since joining in March 1981. He served as Executive Vice President and COO before becoming President and CEO of GAMCO Asset Management. GAMCO is recognized for its value-driven investment strategies, catering to a diversified clientele, including institutions and individual investors. The firm aims to enhance its advisory services through the new leadership structure.
Yieldstreet has appointed Timothy Schott as its new Chief Financial Officer, enhancing its leadership team to drive business growth. Schott, previously CFO of Associated Capital Group (NYSE: AC), brings extensive finance, capital markets, and M&A experience, which is expected to facilitate Yieldstreet’s customer growth and long-term success. His plans include building a robust financial infrastructure to support the company’s next growth phase, aiming to generate $3 billion in income outside traditional markets by 2025.
Associated Capital Group, Inc. (AC) announced preliminary second quarter book value per share between $40.20 and $40.40, down from $41.72 on March 31, 2022, and $42.48 on December 31, 2021. The assets under management increased to $1.80 billion as of June 30, 2022, from $1.61 billion a year earlier. More detailed financial results will be provided in early August.
CIBL, Inc. (OTC: CIBY) has appointed Kenneth D. Masiello as its new Chief Financial Officer. Masiello brings extensive experience, having served as Chief Accounting Officer at Associated Capital Group, Inc. (NYSE: AC) for three years and holding various positions at GE Capital over an 18-year career. CIBL, Inc. focuses on providing high-speed broadband and communications services in northern New Hampshire, covering notable locations like the Omni Mount Washington Hotel and Resort. The company is publicly traded since November 19, 2007.
Associated Capital Group, Inc. (AC) reported financial results for Q1 2022 showing a record AUM of $1.84 billion, up from $1.78 billion at year-end 2021. The company experienced net inflows of $76 million and a minor market appreciation of $2 million. Despite these positive trends, AC reported a net loss of $16.2 million, a significant decline from the $18.6 million net income in Q1 2021. Revenue increased to $2.58 million but was overshadowed by a $15 million decrease in non-operating income, highlighting challenges in the current market environment.
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