Wall Street Zen Upgrades Silvercrest Asset Management Group (NASDAQ:SAMG) to Buy

Key Points

• Wall Street Zen upgraded Silvercrest Asset Management Group from “hold” to “buy,” though analyst views remain mixed and MarketBeat’s overall rating is “Reduce.”
• The asset manager beat quarterly expectations, reporting EPS of $0.16 versus $0.11 expected and revenue of $32.71 million versus $31.85 million expected.
• Insider buying added to the positive signals: Equinox Partners purchased 32,499 shares, and insiders bought 67,524 shares worth about $701,000 during the quarter.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings lowered shares of Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, August 20th. Zacks Research upgraded Silvercrest Asset Management Group from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Reduce".

Silvercrest Asset Management Group Stock Performance

NASDAQ:SAMG opened at $11.22 on Friday. The firm has a market cap of $132.96 million, a P/E ratio of 19.95 and a beta of 0.63. Silvercrest Asset Management Group has a fifty-two week low of $9.09 and a fifty-two week high of $16.16. The firm has a 50-day simple moving average of $10.35 and a two-hundred day simple moving average of $11.77.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last issued its earnings results on Thursday, October 29th. The asset manager reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.05. Silvercrest Asset Management Group had a net margin of 0.74% and a return on equity of 8.55%. The firm had revenue of $32.71 million for the quarter, compared to the consensus estimate of $31.85 million. On average, equities research analysts predict that Silvercrest Asset Management Group will post 0.47 EPS for the current year.

Insider Transactions at Silvercrest Asset Management Group

In related news, major shareholder Equinox Partners Investment Ma purchased 32,499 shares of the company's stock in a transaction dated Thursday, October 29th. The shares were purchased at an average price of $10.45 per share, with a total value of $339,614.55. Following the acquisition, the insider directly owned 867,197 shares in the company, valued at $9,062,208.65. The trade was a 3.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have bought 67,524 shares of company stock worth $701,379. 21.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Roberts Glore & Co. Inc. IL grew its position in shares of Silvercrest Asset Management Group by 8.7% during the 3rd quarter. Roberts Glore & Co. Inc. IL now owns 29,346 shares of the asset manager's stock valued at $310,000 after acquiring an additional 2,353 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Silvercrest Asset Management Group in the 2nd quarter worth $28,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Silvercrest Asset Management Group by 12.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 29,572 shares of the asset manager's stock worth $397,000 after purchasing an additional 3,191 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Silvercrest Asset Management Group in the 3rd quarter worth $40,000. Finally, Renaissance Technologies LLC raised its holdings in Silvercrest Asset Management Group by 3.0% in the 1st quarter. Renaissance Technologies LLC now owns 161,737 shares of the asset manager's stock worth $2,174,000 after purchasing an additional 4,700 shares during the period. 47.59% of the stock is owned by hedge funds and other institutional investors.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group is an investment management and wealth advisory firm serving high-net-worth individuals and families, as well as institutions such as foundations and endowments. The company was founded in 2002 and is headquartered in New York City. Its services include portfolio management, financial planning and family office support. Silvercrest manages assets across a range of investment strategies and works with clients to address their investment and broader wealth-management needs.

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