Acadian Asset Management (NYSE:AAMI) Downgraded by Weiss Ratings to "Hold (C+)"

Key Points

• Acadian Asset Management (NYSE:AAMI) has been downgraded from a "buy (B-)" to a "hold (C+)" rating by Weiss Ratings.
• The stock rose by 1.8% to $47.97 on Friday despite the downgrade, maintaining a 52-week range of $22.60 to $51.65.
• Currently, the company holds a consensus rating of "Hold" from analysts and has an average target price of $44.33.

Acadian Asset Management (NYSE:AAMI - Get Free Report) was downgraded by analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a report released on Friday,Weiss Ratings reports.

AAMI has been the subject of a number of other research reports. Wall Street Zen downgraded shares of Acadian Asset Management from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 18th. Morgan Stanley restated a "positive" rating on shares of Acadian Asset Management in a research report on Monday, October 6th. Zacks Research downgraded shares of Acadian Asset Management from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 3rd. Royal Bank Of Canada boosted their price objective on shares of Acadian Asset Management from $34.00 to $42.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. Finally, Evercore ISI restated a "positive" rating on shares of Acadian Asset Management in a research report on Friday, September 5th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $44.33.

Acadian Asset Management Stock Up 1.8%

Acadian Asset Management stock traded up $0.83 during trading on Friday, reaching $47.97. The stock had a trading volume of 42,251 shares, compared to its average volume of 255,716. Acadian Asset Management has a 52-week low of $22.60 and a 52-week high of $51.65. The business has a 50 day moving average price of $47.60 and a 200 day moving average price of $38.21. The stock has a market cap of $1.72 billion, a PE ratio of 19.99 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.12. Acadian Asset Management had a net margin of 16.65% and a return on equity of 174.31%. The company had revenue of $124.90 million during the quarter, compared to the consensus estimate of $118.07 million. On average, equities analysts predict that Acadian Asset Management will post 2.78 EPS for the current fiscal year.

Institutional Trading of Acadian Asset Management

Several institutional investors and hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in Acadian Asset Management in the 3rd quarter valued at $1,143,000. Allspring Global Investments Holdings LLC raised its position in Acadian Asset Management by 37.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 289,038 shares of the company's stock worth $13,365,000 after buying an additional 78,623 shares during the last quarter. CWM LLC raised its position in Acadian Asset Management by 162.9% during the 3rd quarter. CWM LLC now owns 4,101 shares of the company's stock worth $198,000 after buying an additional 2,541 shares during the last quarter. Texas Permanent School Fund Corp purchased a new position in Acadian Asset Management during the 2nd quarter worth $510,000. Finally, Advisory Services Network LLC purchased a new position in Acadian Asset Management during the 2nd quarter worth $449,000. Hedge funds and other 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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