Silvercrest Asset Management Group (NASDAQ:SAMG) Raised to “Hold” at Zacks Research

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

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

Silvercrest Asset Management Group Trading Down 4.9%

Shares of Silvercrest Asset Management Group stock opened at $9.98 on Tuesday. The company has a fifty day moving average price of $10.69 and a 200 day moving average price of $12.95. Silvercrest Asset Management Group has a twelve month low of $9.57 and a twelve month high of $16.99. The stock 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 posted 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). The company had revenue of $31.41 million during the quarter, compared to analyst estimates of $31.85 million. Silvercrest Asset Management Group had a net margin of 2.12% and a return on equity of 10.51%. Analysts forecast that Silvercrest Asset Management Group will post 0.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAMG. Russell Investments Group Ltd. increased its position in 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 worth $31,000 after buying an additional 798 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Silvercrest Asset Management Group by 28.2% during the fourth 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 during the period. BNP Paribas Financial Markets grew its position in shares of Silvercrest Asset Management Group by 1,200.0% during 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 during the second quarter worth about $167,000. Finally, Cetera Investment Advisers acquired a new stake in shares of Silvercrest Asset Management Group in the 1st quarter worth about $192,000. Institutional investors and hedge funds 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.