Acadian Asset Management (NYSE:AAMI) Cut to "Buy" at Wall Street Zen

Key Points

• Acadian Asset Management has been downgraded from a "strong-buy" to a "buy" rating by Wall Street Zen, reflecting a shift in analysts' outlook on the stock.
• Royal Bank of Canada recently raised its price target for Acadian Asset Management from $34.00 to $42.00, contributing to a consensus price target of $44.33 among analysts.
• Shares of Acadian Asset Management have exhibited significant volatility, with a 52-week low of $22.60 and a high of $51.65, currently trading around $46.31.

Acadian Asset Management (NYSE:AAMI - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued to clients and investors on Saturday.

Other equities research analysts also recently issued reports about the company. Royal Bank Of Canada increased their price target on Acadian Asset Management from $34.00 to $42.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Morgan Stanley restated a "positive" rating on shares of Acadian Asset Management in a report on Monday, October 6th. Weiss Ratings restated a "buy (b-)" rating on shares of Acadian Asset Management in a report on Wednesday, October 8th. Evercore ISI restated a "positive" rating on shares of Acadian Asset Management in a report on Friday, September 5th. Finally, Zacks Research downgraded Acadian Asset Management from a "strong-buy" rating to a "hold" rating in a report on Friday, October 3rd. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Acadian Asset Management currently has an average rating of "Moderate Buy" and a consensus price target of $44.33.

Acadian Asset Management Stock Performance

Shares of NYSE AAMI opened at $46.31 on Friday. The business's 50 day moving average price is $47.58 and its 200-day moving average price is $37.57. Acadian Asset Management has a fifty-two week low of $22.60 and a fifty-two week high of $51.65. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 19.30 and a beta of 1.39.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.12. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%.The firm had revenue of $124.90 million for the quarter, compared to the consensus estimate of $118.07 million. Sell-side analysts predict that Acadian Asset Management will post 2.78 earnings per share for the current year.

Institutional Trading of Acadian Asset Management

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Paulson & CO. Inc. acquired a new stake in shares of Acadian Asset Management in the 2nd quarter worth $315,402,000. Jennison Associates LLC acquired a new stake in shares of Acadian Asset Management in the 2nd quarter worth $73,690,000. Impax Asset Management Group plc acquired a new stake in shares of Acadian Asset Management in the 2nd quarter worth $35,240,000. William Blair Investment Management LLC acquired a new stake in shares of Acadian Asset Management in the 2nd quarter worth $25,094,000. Finally, Geode Capital Management LLC acquired a new stake in shares of Acadian Asset Management in the 2nd quarter worth $22,116,000. Institutional investors own 98.69% of the company's stock.

Acadian Asset Management Company Profile

Acadian Asset Management Inc is a publically owned asset management holding company. The firm provides its services to individuals and institutions. It manages separate client focused portfolios through its subsidiaries. The firm also launches equity mutual funds for its clients. It invests in public equity, fixed income, and alternative investment markets through its subsidiaries.

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