Acadian Asset Management (NYSE:AAMI) Raised to “Strong-Buy” at Zacks Research

Acadian Asset Management (NYSE:AAMI) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Monday, Zacks reports.

Several other equities analysts also recently weighed in on AAMI. Wall Street Zen downgraded shares of Acadian Asset Management from a “strong-buy” rating to a “buy” rating in a report on Sunday. Royal Bank Of Canada increased their price objective on shares of Acadian Asset Management from $85.00 to $88.00 and gave the stock a “sector perform” rating in a research note on Friday, October 30th. Evercore set a $102.00 price objective on shares of Acadian Asset Management in a research report on Friday, October 9th. Weiss Ratings upgraded shares of Acadian Asset Management from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday. Finally, Morgan Stanley upgraded shares of Acadian Asset Management from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $97.00 to $110.00 in a research note on Thursday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $100.00.

Acadian Asset Management Price Performance

Shares of AAMI stock opened at $97.65 on Monday. The firm has a fifty day moving average price of $92.25 and a 200-day moving average price of $75.01. Acadian Asset Management has a 1 year low of $41.47 and a 1 year high of $98.52. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 28.64 and a beta of 1.29.

Acadian Asset Management (NYSE:AAMI) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.36 EPS for the quarter, topping the consensus estimate of $1.22 by $0.14. The firm had revenue of $189.10 million for the quarter. Acadian Asset Management had a return on equity of 139.70% and a net margin of 17.02%. Equities research analysts expect that Acadian Asset Management will post 5.73 EPS for the current year.

Institutional Trading of Acadian Asset Management

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its holdings in shares of Acadian Asset Management by 17.4% in the third quarter. Farther Finance Advisors LLC now owns 754 shares of the company’s stock valued at $69,000 after purchasing an additional 112 shares in the last quarter. GAMMA Investing LLC increased its position in Acadian Asset Management by 11.2% in the third quarter. GAMMA Investing LLC now owns 1,345 shares of the company’s stock worth $123,000 after purchasing an additional 136 shares during the last quarter. ProShare Advisors LLC increased its position in Acadian Asset Management by 3.4% in the third quarter. ProShare Advisors LLC now owns 4,156 shares of the company’s stock worth $381,000 after purchasing an additional 137 shares during the last quarter. Summit Global Investments increased its position in Acadian Asset Management by 1.2% in the third quarter. Summit Global Investments now owns 17,115 shares of the company’s stock worth $1,570,000 after purchasing an additional 207 shares during the last quarter. Finally, Allworth Financial LP raised its stake in Acadian Asset Management by 57.9% during the second quarter. Allworth Financial LP now owns 682 shares of the company’s stock valued at $49,000 after purchasing an additional 250 shares in the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.

Acadian Asset Management Company Profile

Acadian Asset Management is a global investment manager specializing in systematic, data-driven investment strategies. Founded in 1986, the firm applies quantitative research and technology to analyze markets and build portfolios. The firm offers investment strategies across global, international and emerging-markets equities, as well as multi-asset and alternative investments. Its offerings include long-only and long-short approaches and customized portfolio solutions for institutional investors and other clients.