Silvercrest Asset Management Group (NASDAQ:SAMG) Downgraded by StockNews.com to “Buy”

Silvercrest Asset Management Group (NASDAQ:SAMG) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Silvercrest Asset Management Group Price Performance

NASDAQ SAMG opened at $15.43 on Friday. Silvercrest Asset Management Group has a 12 month low of $13.93 and a 12 month high of $19.20. The firm has a market capitalization of $210.37 million, a PE ratio of 19.29 and a beta of 0.80. The company’s 50 day simple moving average is $17.60 and its 200 day simple moving average is $17.69.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued its quarterly earnings results on Thursday, March 6th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.40%. The firm had revenue of $31.96 million for the quarter, compared to analyst estimates of $31.97 million.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN lifted its stake in Silvercrest Asset Management Group by 28.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 1,236 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Silvercrest Asset Management Group during the 4th quarter valued at $122,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Silvercrest Asset Management Group by 12.2% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager’s stock worth $302,000 after acquiring an additional 1,781 shares in the last quarter. Jane Street Group LLC grew its holdings in shares of 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 acquiring an additional 7,155 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Silvercrest Asset Management Group by 80.8% during the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock worth $355,000 after purchasing an additional 9,209 shares during the period. Institutional investors and hedge funds own 47.59% of the company’s stock.

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.