Associated Capital Group Announces Increase in Second-Quarter Book Value

Associated Capital Group, Inc. (NYSE: AC) has announced a preliminary range for its second-quarter book value, revealing an increase to $42.75 to $42.95 per share. This marks a rise from the $42.80 per share reported at the end of the first quarter of 2024, $42.11 per share at the close of 2023, and $41.41 per share at the end of the second quarter of 2023. The company will provide further details on its financial results in August.

Associated Capital Group, Inc., headquartered in Greenwich, Connecticut, is a diversified global financial services company that offers alternative investment management through Gabelli & Company Investment Advisers, Inc. It has also allocated proprietary capital for its direct investment business, which invests in new and existing businesses.

The company's direct investment business is evolving along several core pillars, including Gabelli Private Equity Partners, LLC, formed in August 2017 with $150 million of authorized capital as a "fund-less" sponsor, and Gabelli Principal Strategies Group, LLC, established in December 2015 to pursue strategic operating initiatives. As a result of these announcements, the company's shares have moved 1.0% on the market, and are now trading at a price of $29.96. For the full picture, make sure to review Associated Capital's 8-K report.

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