Associated Capital Group, Inc.

OTCPK:ACGP Stock Report

Market Cap: US$741.5m

Associated Capital Group Future Growth

Future criteria checks 0/6

We currently don't have sufficient analyst coverage to forecast growth and revenue for Associated Capital Group.

Key information

n/a

Earnings growth rate

n/a

EPS growth rate

Capital Markets earnings growth12.7%
Revenue growth raten/a
Future return on equityn/a
Analyst coverage

None

Last updatedn/a

Recent future growth updates

No updates

Recent updates

Seeking Alpha • Feb 08

Associated Capital Group GAAP EPS of $0.62, revenue of $7.54M

Associated Capital Group press release (NYSE:AC): Q4 GAAP EPS of $0.62. Revenue of $7.54M (-46.1% Y/Y). Book Value was $40.48 per share at year-end 2022 Year-end AUM: $1.84 billion at December 31, 2022 vs. $1.78 billion at December 31, 2021 Net Inflows were $100 million for the year Full year Merger Arbitrage performance1: +4.47% gross, +2.75% net.
Seeking Alpha • Jan 18

Associated Capital's AUM as of Dec. 31 increases Y/Y

Associated Capital Group (NYSE:AC) said its AUM as of Dec. 31, 2022, stood at $1.84B, compared to $1.78B a year ago. The investment advisory services company's book value is estimated to be within the range of $40.37 and $40.57 per share, compared to $39.96 per share at Sep. 30, 2022, and $42.48 at Dec. 31, 2021. The company said it will issue further details on its financial results in February. Source: Press Release
Seeking Alpha • Nov 11

Associated Capital Group GAAP EPS of -$0.75, revenue of $2.56M

Associated Capital Group press release (NYSE:AC): Q3 GAAP EPS of -$0.75. Revenue of $2.56M (+21.3% Y/Y). Book Value per share ended the quarter at $39.96 per share vs $42.24 at September 30, 2021 AUM: $1.75 billion at September 30, 2022 compared to $1.78 billion at December 31, 2021 and $1.68 billion at September 30, 2021.
Seeking Alpha • Oct 14

Associated Capital Group AUM up 4.2% Y/Y

Associated Capital Group (NYSE:AC) announced today a range of its September 30 preliminary book value of $39.81 to $40.01 per share. This compares to $40.30 at June 30, 2022, $42.48 per share at December 31, 2021 and $42.24 at September 30, 2021. AUM were $1.75B at September 30, 2022 vs. $1.68B last year.
Seeking Alpha • Jul 20

Associated Capital Group sees Q2 book value between $40.20-$40.40 per share

Associated Capital Group (NYSE:AC) expects Q2 book value in the range of $40.20 to $40.40 per share. This compares to $41.72 at March 31, 2022, $42.48 per share at Dec. 31, 2021 and $42.21 at June 30, 2021. AUM were $1.80B at June 30, 2022, up from $1.61B at June 30, 2021.
Seeking Alpha • Jul 07

Associated Capital Group: Trading At 0.92x NAV, Lots Of Free Embedded Options And Mario Gabelli Owns 85%

Associated Capital trades for ~0.92x NAV, where the assets are mainly cash and investments. At current prices, the market is overlooking a lot of free options embedded within AC. Mario Gabelli owns ~85% of AC and the company is consistently buying back stock. Investment Thesis Associated Capital Group (AC) is an opportunity to invest alongside Mario Gabelli, who owns ~85% of the company, at 92 cents on the dollar. The current price gives no value to the growing merger arbitrage hedge fund inside AC, the company's own investments that should compound over time, or the free optionality on all of AC's future ventures and products. The company understands that there is a gap between price and value and has been slowly buying back stock. Background Associated Capital Group is an asset manager with $1.8B in assets under management (or AUM) and is primarily involved in merger arbitrage (~$1.6B of AUM). Based on the recent 10-K, the goal of the merger arbitrage fund is to "earn absolute positive returns" and has "compounded net annual returns of 7.4% with 35 of 37 positive years". The breakdown of AUM (as of March 31, 2022) was: Merger Arbitrage: $1.6B Event-Driven Value (excluding merger arbitrage): $191M Other (includes investment vehicles focused on private equity, merchant banking, non-investment-grade credit and capital structure arbitrage): $42M Associated Capital was originally spun off from GAMCO Investors (GBL). As John Huber wrote in his article on AC back in 2016: Why does AC Exist? Well-known investment manager Mario Gabelli of GAMCO Investors ((GBL)) decided that the market wasn't giving his company credit for the value of the sizable excess cash and investments that GBL held on its balance sheet. So he decided to create a new company, stuff it with the excess cash and investments among a few other assets (as well as an operating business), and spin it off from GAMCO. The result is an under-followed, thinly traded company called Associated Capital. Gabelli, who owns a majority stake in GAMCO, has kept his pro rata share of AC and he owns roughly 74% of the outstanding shares (18.9 million shares of the 25.4 million total shares outstanding). AC had an institutional research business (Morgan Group Holding Co.), but it was spun off in August 2020. Valuation With ~3M Class A and ~19M Class B shares outstanding, the total share count is 22M shares (Class B entitled to 10 votes per share, whereas Class A is only entitled to 1 vote per share). At a current price of $36.69, the market cap is ~$809M.

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Associated Capital Group has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Earnings and Revenue Growth Forecasts

OTCPK:ACGP - Analysts future estimates and past financials data (USD Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
3/31/202627443961N/A
12/31/20252752-14-7N/A
9/30/20251246-2-2N/A
6/30/20251254-51-51N/A
3/31/202512382020N/A
12/31/202413442727N/A
9/30/20241456-96-96N/A
6/30/20241333-6-6N/A
3/31/20241334-40-40N/A
12/31/20231337145145N/A
9/30/20231535155155N/A
6/30/202315188080N/A
3/31/202315-158484N/A
12/31/202215-49-71-71N/A
9/30/202222-53-280-280N/A
6/30/202221-353636N/A
3/31/202221242323N/A
12/31/20212159238238N/A
9/30/202119101481481N/A
6/30/202119105205205N/A
3/31/202118111-62-62N/A
12/31/20201919-290-279N/A
9/30/202021-21-283-272N/A
6/30/202022-21-273-261N/A
3/31/202021-55-23-5N/A
12/31/20192241N/A-44N/A
9/30/201917-10N/A28N/A
6/30/201919-24N/A92N/A
3/31/201923-13N/A94N/A
12/31/201823-58N/A77N/A
9/30/201826-2N/A57N/A
6/30/2018267N/A-121N/A
3/31/2018270N/A-83N/A
12/31/2017279N/A-68N/A
9/30/201732-3N/A-172N/A
6/30/201732-1N/A16N/A
3/31/201732-4N/A-8N/A
12/31/20163110N/A7N/A
9/30/20162411N/A-54N/A
6/30/201623-1N/A-105N/A
3/31/201623-1N/A-86N/A
12/31/2015230N/A-47N/A
9/30/201522-2N/A41N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if ACGP's forecast earnings growth is above the savings rate (3.5%).

Earnings vs Market: Insufficient data to determine if ACGP's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if ACGP's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if ACGP's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if ACGP's revenue is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if ACGP's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/06 16:29
End of Day Share Price 2026/06/30 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Industry and Sector Metrics

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Analyst Sources

Associated Capital Group, Inc. is covered by 0 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.