Acadian Asset Management (NYSE:AAMI) Stock Bumped Up to Strong-Buy by Zacks Research

Key Points

• Zacks Research upgraded Acadian Asset Management to “strong buy” from “hold.” Other analyst views are mixed, with the overall consensus at “Buy” and an average price target of $100.
• Shares rose 1.7% and opened at $97.65, near the 12-month high of $98.52.
• In its latest reported quarter, Acadian earned $1.36 per share, beating the $1.22 analyst consensus; revenue was $189.1 million.

Acadian Asset Management (NYSE:AAMI - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Monday, Zacks reports.

A number of other equities analysts have also recently weighed in on the stock. 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 report on Monday. Morgan Stanley raised shares of Acadian Asset Management from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $97.00 to $110.00 in a research note on Thursday, November 5th. Royal Bank Of Canada upped their price target on shares of Acadian Asset Management from $85.00 to $88.00 and gave the stock a "sector perform" rating in a research report on Friday, October 30th. Finally, Wall Street Zen downgraded shares of Acadian Asset Management from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Acadian Asset Management has an average rating of "Buy" and a consensus price target of $100.00.

Acadian Asset Management Trading Up 1.7%

Shares of AAMI opened at $97.65 on Monday. Acadian Asset Management has a 12 month low of $41.47 and a 12 month high of $98.52. The stock's 50 day moving average is $92.25 and its two-hundred day moving average is $75.01. The firm has a market cap of $3.45 billion, a P/E ratio of 28.64 and a beta of 1.29.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.14. Acadian Asset Management had a return on equity of 139.70% and a net margin of 17.02%. The business had revenue of $189.10 million during the quarter. Equities research analysts forecast that Acadian Asset Management will post 5.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAMI. Paulson & CO. Inc. acquired a new stake in Acadian Asset Management during the 2nd quarter worth $417,912,000. BlackRock Inc. purchased a new position in shares of Acadian Asset Management in the second quarter worth about $320,877,000. Jennison Associates LLC lifted its stake in shares of Acadian Asset Management by 5.9% in the first quarter. Jennison Associates LLC now owns 2,022,207 shares of the company's stock worth $110,049,000 after buying an additional 112,985 shares in the last quarter. Azora Capital LP acquired a new position in Acadian Asset Management during the second quarter worth about $35,474,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Acadian Asset Management by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 419,239 shares of the company's stock worth $23,561,000 after acquiring an additional 51,075 shares during the last quarter. Hedge funds and other institutional investors own 98.69% of the company's stock.

About Acadian Asset Management

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.

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