Silvercrest Asset Management Group (NASDAQ:SAMG) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• Silvercrest exceeded quarterly expectations: The asset manager reported earnings of $0.16 per share, beating estimates by $0.04, while revenue reached $32.71 million versus the $31.85 million consensus.
• Shares remained under pressure: SAMG traded at $10.35, with a market capitalization of approximately $122.65 million and a 12-month trading range of $9.09 to $16.16.
• Analyst sentiment is cautious: The stock carries a consensus “Reduce” rating, with one analyst rating it Hold and another Sell, despite insiders purchasing 67,524 shares over the past three months.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) posted its earnings results on Thursday. The asset manager reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.04, FiscalAI reports. Silvercrest Asset Management Group had a net margin of 0.72% and a return on equity of 8.71%. The business had revenue of $32.71 million for the quarter, compared to analyst estimates of $31.85 million.

Silvercrest Asset Management Group Price Performance

SAMG stock traded down $0.09 during mid-day trading on Thursday, hitting $10.35. 99,499 shares of the stock were exchanged, compared to its average volume of 54,820. The business has a fifty day moving average price of $10.13 and a 200 day moving average price of $12.05. Silvercrest Asset Management Group has a 12 month low of $9.09 and a 12 month high of $16.16. The stock has a market capitalization of $122.65 million, a price-to-earnings ratio of 94.10 and a beta of 0.64.

Analyst Ratings Changes

A number of research firms have recently commented on SAMG. Weiss Ratings lowered shares of Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a research 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. Finally, Wall Street Zen raised Silvercrest Asset Management Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Silvercrest Asset Management Group currently has a consensus rating of "Reduce".

Insider Activity

In other news, major shareholder Equinox Partners Investment Ma acquired 32,499 shares of the firm's stock in a transaction that occurred on Thursday, October 29th. The shares were bought at an average cost of $10.45 per share, with a total value of $339,614.55. Following the acquisition, the insider owned 867,197 shares in the company, valued at approximately $9,062,208.65. This represents a 3.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders bought 67,524 shares of company stock valued at $701,379. 21.70% of the stock is currently owned by corporate insiders.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group, Inc is an investment advisory and wealth management firm serving high-net-worth individuals, families, family offices, institutions, and charitable organizations. The company provides customized investment management and financial planning services designed to address clients' long-term wealth objectives.

Its services include portfolio management, asset allocation, manager selection, wealth planning, family office support, and advice related to trusts, estates, and other complex financial matters.

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