Short Interest in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Expands By 26.8%

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the recipient of a significant growth in short interest in December. As of December 15th, there was short interest totalling 36,000 shares, a growth of 26.8% from the November 30th total of 28,400 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average trading volume of 22,400 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a report on Wednesday, November 20th.

Institutional Trading of Silvercrest Asset Management Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Rhumbline Advisers grew its holdings in Silvercrest Asset Management Group by 15.7% in the 2nd quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock valued at $237,000 after buying an additional 2,072 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Silvercrest Asset Management Group by 30.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock valued at $253,000 after acquiring an additional 3,446 shares in the last quarter. Hsbc Holdings PLC bought a new position in Silvercrest Asset Management Group during the second quarter worth about $270,000. Jane Street Group LLC raised its stake in Silvercrest Asset Management Group by 55.6% in the 3rd quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock worth $345,000 after purchasing an additional 7,155 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Silvercrest Asset Management Group by 80.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after purchasing an additional 9,209 shares during the period. Institutional investors own 47.59% of the company’s stock.

Silvercrest Asset Management Group Stock Performance

SAMG traded down $0.05 during trading hours on Tuesday, reaching $18.39. The company’s stock had a trading volume of 18,663 shares, compared to its average volume of 26,159. The company’s 50-day moving average is $17.96 and its 200-day moving average is $16.78. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week high of $19.20. The firm has a market cap of $254.98 million, a PE ratio of 22.99 and a beta of 0.83.

Silvercrest Asset Management Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.35%. The ex-dividend date was Friday, December 13th. Silvercrest Asset Management Group’s dividend payout ratio is presently 100.00%.

Silvercrest Asset Management Group Company Profile

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.