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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS UNAUDITED - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2018
Mar. 31, 2018
Dec. 31, 2017
Sep. 30, 2017
Jun. 30, 2017
Mar. 31, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Operating activities                  
Net income $ 31,582       $ 22,894   $ 58,843 $ 47,714  
Adjustments to reconcile net income to net cash provided by operating activities:                  
Depreciation and amortization             289 294  
Stock based compensation expense 351 $ 187 $ 1,488 $ 369 4,381 $ 699 541 5,078 $ 6,937
Deferred income taxes             (3,896) (5,698)  
Foreign currency translation loss             29 47  
Cost basis of donated securities             85 16  
(Increase) decrease in assets:                  
Investments in trading securities             2,750 27  
Receivable from affiliates             1,257 1,069  
Receivable from brokers             (1,416) (390)  
Investment advisory fees receivable             10,176 16,241  
Income tax receivable and deferred tax assets             (1,562) (10,013)  
Other assets             299 (357)  
Increase (decrease) in liabilities:                  
Payable to affiliates             123 974  
Payable to brokers             (117) 4,604  
Income taxes payable and deferred tax liabilities             4,011 6,134  
Compensation payable             14,720 11,254  
Accrued expenses and other liabilities             (300) (458)  
Total adjustments             26,989 28,822  
Net cash provided by operating activities             85,832 76,536  
Investing activities                  
Purchases of available for sale securities             0 (50)  
Proceeds from sales of available for sale securities         0     0  
Net cash used in investing activities             0 (50)  
Financing activities                  
Dividends paid             (1,756) (1,156)  
Purchase of treasury stock             (6,852) (4,757)  
Amortization of debt issuance costs             12 30  
Net cash used in financing activities             (62,075) (25,883)  
Effect of exchange rates on cash and cash equivalents             (90) (10)  
Net increase in cash and cash equivalents             23,667 50,593  
Cash and cash equivalents at beginning of period   $ 17,821   $ 90,405   $ 39,812 17,821 39,812 39,812
Cash and cash equivalents at end of period $ 41,488   $ 17,821   $ 90,405   41,488 90,405 $ 17,821
Supplemental disclosures of cash flow information:                  
Cash paid for interest             1,386 3,824  
Cash paid for taxes             19,447 38,905  
AC 4% PIK Note [Member]                  
Financing activities                  
Repayment of debt             (30,000) (20,000)  
AC 1.6% Note [Member]                  
Financing activities                  
Repayment of debt             (15,000) 0  
Margin Loan [Member]                  
Financing activities                  
Repayment of debt             (19,479) 0  
Issuance of debt             $ 11,000 $ 0