Silvercrest Asset Management Group (NASDAQ:SAMG) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Silvercrest Asset Management Group (NASDAQ:SAMG) released its quarterly earnings data on Monday. The asset manager reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.10), FiscalAI reports. The firm had revenue of $31.41 million during the quarter, compared to analyst estimates of $31.85 million. Silvercrest Asset Management Group had a net margin of 3.90% and a return on equity of 11.99%.

Silvercrest Asset Management Group Trading Down 0.5%

NASDAQ SAMG traded down $0.07 on Monday, reaching $13.26. The stock had a trading volume of 9,338 shares, compared to its average volume of 31,740. The business has a 50 day moving average price of $13.85 and a 200 day moving average price of $14.44. Silvercrest Asset Management Group has a 1 year low of $12.79 and a 1 year high of $16.99. The company has a market capitalization of $156.39 million, a price-to-earnings ratio of 25.02 and a beta of 0.69.

Wall Street Analyst Weigh In

SAMG has been the topic of several analyst reports. Zacks Research upgraded Silvercrest Asset Management Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 25th. Weiss Ratings downgraded 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 Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Silvercrest Asset Management Group has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SAMG. Marshall Wace LLP purchased a new position in Silvercrest Asset Management Group in the second quarter valued at about $1,014,000. Arrowstreet Capital Limited Partnership purchased a new position in Silvercrest Asset Management Group in the second quarter valued at about $316,000. Boston Partners grew its stake in Silvercrest Asset Management Group by 9.3% in the fourth quarter. Boston Partners now owns 232,310 shares of the asset manager’s stock valued at $3,529,000 after purchasing an additional 19,753 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Silvercrest Asset Management Group by 24.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 99,056 shares of the asset manager’s stock valued at $1,505,000 after purchasing an additional 19,186 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Silvercrest Asset Management Group in the second quarter valued at about $247,000. Hedge funds and other institutional investors own 47.59% of the company’s stock.

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.