Silvercrest Asset Management Group (NASDAQ:SAMG) Rating Lowered to Strong Sell at Zacks Research

by · The Cerbat Gem

Silvercrest Asset Management Group (NASDAQ:SAMG – Get Free Report) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Silvercrest Asset Management Group has a consensus rating of “Reduce”.

Read Our Latest Report on Silvercrest Asset Management Group

Silvercrest Asset Management Group Price Performance

NASDAQ SAMG opened at $14.10 on Monday. The business has a fifty day moving average price of $15.39 and a two-hundred day moving average price of $15.55. Silvercrest Asset Management Group has a fifty-two week low of $13.54 and a fifty-two week high of $19.20. The stock has a market capitalization of $177.19 million, a PE ratio of 16.02 and a beta of 0.75.

Silvercrest Asset Management Group (NASDAQ:SAMG – Get Free Report) last released its earnings results on Thursday, October 30th. The asset manager reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.10). Silvercrest Asset Management Group had a return on equity of 12.03% and a net margin of 6.63%.The business had revenue of $31.30 million for the quarter, compared to the consensus estimate of $32.12 million.

Institutional Trading of Silvercrest Asset Management Group

A number of large investors have recently bought and sold shares of SAMG. Gabelli Funds LLC boosted its position in shares of Silvercrest Asset Management Group by 629.9% during the 2nd quarter. Gabelli Funds LLC now owns 184,887 shares of the asset manager’s stock worth $2,932,000 after purchasing an additional 159,555 shares in the last quarter. Marshall Wace LLP purchased a new position in Silvercrest Asset Management Group in the 2nd quarter valued at approximately $1,014,000. Hsbc Holdings PLC grew its stake in Silvercrest Asset Management Group by 191.9% in the 2nd quarter. Hsbc Holdings PLC now owns 65,249 shares of the asset manager’s stock valued at $1,045,000 after buying an additional 42,898 shares in the last quarter. Nuveen LLC purchased a new position in Silvercrest Asset Management Group in the 1st quarter valued at approximately $331,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Silvercrest Asset Management Group in the 2nd quarter valued at approximately $316,000. 47.59% of the stock is currently owned by institutional investors and hedge funds.

About Silvercrest Asset Management Group

(Get Free Report)

Silvercrest Asset Management Group Inc, a wealth management firm, provides financial advisory and related family office services in the United States. The company serves ultra-high net worth individuals and families, as well as their trusts; endowments; foundations; and other institutional investors.

Further Reading