Acadian Asset Management Inc. $AAMI Shares Bought by Cannell & Spears LLC

Key Points

• Cannell & Spears LLC increased its stake in Acadian Asset Management by 42.8% in the first quarter, ending with 84,513 shares valued at about $4.4 million.
• Insider selling was notable, with CAO Richard Jonathan Hart selling 100,000 shares for about $6.7 million, cutting his position by 57.5%.
• Acadian Asset Management reported quarterly EPS of $1.05, beating analyst expectations, while analysts currently rate the stock a consensus Hold with a $78 price target.

Cannell & Spears LLC grew its stake in Acadian Asset Management Inc. (NYSE:AAMI - Free Report) by 42.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,513 shares of the company's stock after purchasing an additional 25,316 shares during the period. Cannell & Spears LLC owned about 0.24% of Acadian Asset Management worth $4,418,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobs Levy Equity Management Inc. purchased a new position in shares of Acadian Asset Management during the 3rd quarter valued at approximately $20,059,000. SG Americas Securities LLC boosted its holdings in Acadian Asset Management by 1,414.9% during the fourth quarter. SG Americas Securities LLC now owns 359,613 shares of the company's stock worth $16,902,000 after buying an additional 335,874 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in Acadian Asset Management during the first quarter valued at $15,325,000. Soros Fund Management LLC increased its holdings in Acadian Asset Management by 61.3% in the fourth quarter. Soros Fund Management LLC now owns 737,367 shares of the company's stock valued at $34,656,000 after buying an additional 280,239 shares in the last quarter. Finally, Amundi purchased a new position in Acadian Asset Management in the third quarter valued at $11,361,000. Institutional investors and hedge funds own 98.69% of the company's stock.

Insider Activity at Acadian Asset Management

In related news, CAO Richard Jonathan Hart sold 100,000 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $66.97, for a total transaction of $6,697,000.00. Following the completion of the transaction, the chief accounting officer owned 73,863 shares in the company, valued at $4,946,605.11. This represents a 57.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 22.60% of the stock is owned by corporate insiders.

Acadian Asset Management Stock Performance

Shares of NYSE AAMI opened at $80.81 on Friday. The firm has a market cap of $2.88 billion, a PE ratio of 34.39 and a beta of 1.32. The firm has a fifty day moving average of $76.11 and a 200 day moving average of $63.59. Acadian Asset Management Inc. has a one year low of $39.20 and a one year high of $85.73.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.11. The company had revenue of $165.00 million during the quarter. Acadian Asset Management had a net margin of 13.78% and a return on equity of 185.73%. On average, equities analysts predict that Acadian Asset Management Inc. will post 5.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AAMI. Weiss Ratings downgraded shares of Acadian Asset Management from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. Evercore set a $84.00 target price on Acadian Asset Management in a research report on Friday, July 10th. Royal Bank Of Canada lifted their price target on Acadian Asset Management from $66.00 to $72.00 and gave the company a "sector perform" rating in a research note on Thursday, July 2nd. Zacks Research raised Acadian Asset Management from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. Finally, Morgan Stanley increased their price target on Acadian Asset Management from $60.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $78.00.

About Acadian Asset Management

Acadian Asset Management is a global investment management firm specializing in quantitative research and systematic strategies. Since its founding in 1986, the firm has developed data-driven models designed to identify and capture investment opportunities across equity and fixed income markets. By integrating advanced analytics, proprietary risk management tools and a disciplined investment process, Acadian seeks to deliver consistent performance for institutional clients.

The firm's core offerings include institutional equity portfolios, fixed income strategies and multi-asset solutions.

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