Silvercrest Asset Management Group (NASDAQ:SAMG) Lowered to Hold Rating by Zacks Research

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

Separately, Weiss Ratings cut Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

Silvercrest Asset Management Group Trading Down 5.3%

SAMG opened at $12.56 on Monday. The business’s 50 day moving average is $13.70 and its 200-day moving average is $14.41. The stock has a market cap of $148.08 million, a PE ratio of 41.87 and a beta of 0.69. Silvercrest Asset Management Group has a twelve month low of $12.49 and a twelve month high of $16.99.

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 analysts’ consensus estimates of $0.21 by ($0.09). Silvercrest Asset Management Group had a net margin of 2.12% and a return on equity of 10.16%. The business had revenue of $31.41 million for the quarter, compared to the consensus estimate of $31.85 million. As a group, analysts forecast that Silvercrest Asset Management Group will post 1.53 EPS for the current year.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in Silvercrest Asset Management Group by 64.8% during the 4th quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock worth $31,000 after purchasing an additional 798 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Silvercrest Asset Management Group by 28.2% during the 4th 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 in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Silvercrest Asset Management Group by 1,200.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock valued at $149,000 after acquiring an additional 8,652 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Silvercrest Asset Management Group during the 2nd quarter valued at $167,000. Finally, Jane Street Group LLC purchased a new position in shares of Silvercrest Asset Management Group during the 1st quarter valued at $242,000. 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.