Artisan Partners Asset Management (NYSE:APAM) Downgraded to Strong Sell Rating by Zacks Research

Artisan Partners Asset Management (NYSE:APAM) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the stock. TD Cowen reiterated a “hold” rating on shares of Artisan Partners Asset Management in a report on Thursday, April 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Artisan Partners Asset Management in a report on Thursday, July 2nd. The Goldman Sachs Group decreased their price target on Artisan Partners Asset Management from $39.00 to $34.00 and set a “sell” rating for the company in a research note on Tuesday, April 7th. Wall Street Zen cut shares of Artisan Partners Asset Management from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Finally, Evercore set a $36.00 target price on Artisan Partners Asset Management in a research note on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $39.25.

Artisan Partners Asset Management Trading Down 1.2%

Shares of Artisan Partners Asset Management stock opened at $38.53 on Wednesday. Artisan Partners Asset Management has a fifty-two week low of $33.96 and a fifty-two week high of $48.46. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 9.75 and a beta of 1.68. The stock has a 50 day moving average of $36.61 and a 200 day moving average of $38.65.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, April 28th. The asset manager reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.04). Artisan Partners Asset Management had a return on equity of 72.99% and a net margin of 23.49%.The firm had revenue of $303.01 million for the quarter, compared to analyst estimates of $304.01 million. During the same quarter last year, the company earned $0.83 earnings per share. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, research analysts predict that Artisan Partners Asset Management will post 3.89 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Wasatch Advisors LP grew its position in Artisan Partners Asset Management by 8.4% in the second quarter. Wasatch Advisors LP now owns 1,704,243 shares of the asset manager’s stock valued at $58,848,000 after purchasing an additional 132,708 shares in the last quarter. Salvus Wealth Management LLC raised its position in shares of Artisan Partners Asset Management by 22.6% in the second quarter. Salvus Wealth Management LLC now owns 9,650 shares of the asset manager’s stock valued at $333,000 after purchasing an additional 1,776 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Artisan Partners Asset Management during the 2nd quarter worth about $700,000. Versant Capital Management Inc boosted its holdings in shares of Artisan Partners Asset Management by 51.0% during the 2nd quarter. Versant Capital Management Inc now owns 1,658 shares of the asset manager’s stock worth $57,000 after buying an additional 560 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of Artisan Partners Asset Management by 11.0% during the 1st quarter. Bank of America Corp DE now owns 343,520 shares of the asset manager’s stock worth $12,501,000 after buying an additional 33,921 shares during the period. Institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is a global investment management firm that specializes in active, fundamental research-driven strategies across a range of equity, fixed income and alternative asset classes. Founded in 1994 by Andrew Ziegler, the company has built a reputation for its team-based approach to portfolio construction, emphasizing deep sector expertise and independent analysis. Its product lineup includes U.S. and international equity strategies, global emerging markets, as well as credit and multisector fixed income offerings.

Artisan Partners serves a diverse client base that spans institutional investors, intermediaries and high-net-worth individuals located in North America, Europe and Asia.