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

Key Points

• Wall Street Zen downgraded Acadian Asset Management from “strong buy” to “buy,” while the broader analyst consensus remains “hold” with an average price target of $94.00.
• AAMI shares opened at $93.97, near their 52-week high of $98.52, and have risen above their 50-day and 200-day moving averages. The company has a $3.34 billion market capitalization and a price-to-earnings ratio of 33.21.
• Acadian reported quarterly earnings of $1.33 per share, beating the $1.03 consensus estimate, on revenue of $183.2 million. Institutional investors and hedge funds own approximately 98.69% of the company.

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

AAMI has been the topic of several other reports. Evercore set a $102.00 price objective on Acadian Asset Management in a research note on Friday. Royal Bank Of Canada increased their price objective on shares of Acadian Asset Management from $80.00 to $85.00 and gave the company a "sector perform" rating in a research report on Friday. Zacks Research lowered shares of Acadian Asset Management from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Morgan Stanley raised their price target on shares of Acadian Asset Management from $81.00 to $95.00 and gave the company an "equal weight" rating in a report on Friday, September 25th. Finally, Weiss Ratings raised shares of Acadian Asset Management from a "buy (b)" rating to a "buy (b+)" rating in a research note on Thursday. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $94.00.

Acadian Asset Management Stock Up 0.3%

Shares of Acadian Asset Management stock opened at $93.97 on Monday. The business's fifty day moving average is $92.34 and its two-hundred day moving average is $78.71. Acadian Asset Management has a fifty-two week low of $41.47 and a fifty-two week high of $98.52. The firm has a market cap of $3.34 billion, a PE ratio of 33.21 and a beta of 1.31.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.30. The firm had revenue of $183.20 million for the quarter. Acadian Asset Management had a return on equity of 189.32% and a net margin of 15.17%. Equities research analysts anticipate that Acadian Asset Management will post 5.51 EPS for the current year.

Institutional Trading of Acadian Asset Management

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Acadian Asset Management during the second quarter valued at about $38,000. Integrated Wealth Concepts LLC bought a new position in Acadian Asset Management in the 2nd quarter valued at about $40,000. Allworth Financial LP bought a new position in Acadian Asset Management in the 2nd quarter valued at about $49,000. Farther Finance Advisors LLC increased its stake in Acadian Asset Management by 17.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 754 shares of the company's stock valued at $69,000 after buying an additional 112 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Acadian Asset Management during the 2nd quarter valued at about $67,000. Institutional investors and hedge funds own 98.69% of the company's stock.

About Acadian Asset Management

Acadian Asset Management is a global investment management firm that uses quantitative and systematic research to design and manage portfolios for institutional and intermediary clients. The company applies data-driven processes, technology and fundamental analysis to identify investment opportunities and manage risk across global markets.

Its offerings include actively managed strategies in global and emerging-market equities, fixed income, multi-asset portfolios and alternative investments.

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