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

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

A number of other equities research analysts also recently weighed in on SAMG. Wall Street Zen downgraded Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Silvercrest Asset Management Group Stock Performance

Shares of SAMG opened at $10.11 on Monday. The company’s 50 day moving average price is $11.81 and its 200 day moving average price is $13.69. Silvercrest Asset Management Group has a 52 week low of $10.01 and a 52 week high of $16.99. The company has a market capitalization of $119.80 million, a PE ratio of 33.70 and a beta of 0.64.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued its earnings results on Monday, May 11th. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). Silvercrest Asset Management Group had a net margin of 2.12% and a return on equity of 10.51%. The company had revenue of $31.41 million for the quarter, compared to analyst estimates of $31.85 million. On average, equities analysts forecast that Silvercrest Asset Management Group will post 0.53 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Institutional investors have recently bought and sold shares of the business. Russell Investments Group Ltd. increased its stake in shares of Silvercrest Asset Management Group by 64.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock valued at $31,000 after buying an additional 798 shares in the last quarter. Wells Fargo & Company MN increased its position in Silvercrest Asset Management Group by 28.2% in the 4th quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock valued at $117,000 after acquiring an additional 1,702 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Silvercrest Asset Management Group by 1,200.0% in the second quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock worth $149,000 after acquiring an additional 8,652 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Silvercrest Asset Management Group in the second quarter worth about $167,000. Finally, Cetera Investment Advisers acquired a new position in shares of Silvercrest Asset Management Group during the first quarter worth approximately $192,000. Institutional investors own 47.59% of the company’s stock.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group Inc, headquartered in New York City, is an independent registered investment adviser that specializes in delivering customized wealth and asset management solutions for high-net-worth individuals, family offices and institutional clients. Founded in 2002 by senior professionals from leading financial institutions, Silvercrest has built its reputation on a disciplined, research-driven investment process and a commitment to personalized client service.

The firm’s core offerings include discretionary and non-discretionary portfolio management across equities, fixed income, hedge funds and alternative investments.