Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded by Zacks Research to “Hold” Rating

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities research analysts have also issued reports on SAMG. Weiss Ratings lowered Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. Wall Street Zen cut Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Silvercrest Asset Management Group Price Performance

Shares of NASDAQ:SAMG opened at $9.98 on Tuesday. The firm has a fifty day moving average price of $10.69 and a two-hundred day moving average price of $12.95. Silvercrest Asset Management Group has a one year low of $9.57 and a one year high of $16.99. The company has a market cap of $118.26 million, a price-to-earnings ratio of 33.27 and a beta of 0.66.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings results on Monday, May 11th. The asset manager reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.09). The firm had revenue of $31.41 million during the quarter, compared to the consensus estimate of $31.85 million. Silvercrest Asset Management Group had a return on equity of 10.51% and a net margin of 2.12%. Equities research analysts expect that Silvercrest Asset Management Group will post 0.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAMG. Jane Street Group LLC bought a new position in Silvercrest Asset Management Group in the first quarter valued at $242,000. Arrowstreet Capital Limited Partnership purchased a new stake in Silvercrest Asset Management Group during the second quarter valued at about $316,000. Marshall Wace LLP bought a new stake in Silvercrest Asset Management Group during the second quarter worth about $1,014,000. Gamco Investors INC. ET AL lifted its stake in Silvercrest Asset Management Group by 42.0% during the second quarter. Gamco Investors INC. ET AL now owns 28,409 shares of the asset manager’s stock worth $451,000 after purchasing an additional 8,409 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Silvercrest Asset Management Group in the 2nd quarter worth about $247,000. 47.59% of the stock is currently owned by hedge funds and other institutional investors.

Silvercrest Asset Management Group Company Profile

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.