Empyrean Capital Partners LP Sells 96,372 Shares of Acadian Asset Management Inc. $AAMI

Key Points

• Empyrean Capital Partners reduced its Acadian Asset Management stake by 96,372 shares, or 6.9%, leaving it with 1.31 million shares valued at approximately $71.2 million. Institutional investors collectively own 98.69% of AAMI.
• AAMI shares traded at $82.79, near their 12-month high of $85.73, after rising 2.4%. The company reported quarterly EPS of $1.05, beating the $0.94 consensus estimate, on revenue of $165 million.
• Analysts maintain a consensus “Hold” rating with a $78 target price, below the current share price. Separately, Chief Accounting Officer Richard Jonathan Hart sold 100,000 shares for about $6.7 million, reducing his position by 57.5%.

Empyrean Capital Partners LP lowered its position in shares of Acadian Asset Management Inc. (NYSE:AAMI - Free Report) by 6.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,308,190 shares of the company's stock after selling 96,372 shares during the quarter. Acadian Asset Management comprises approximately 2.3% of Empyrean Capital Partners LP's holdings, making the stock its 8th largest holding. Empyrean Capital Partners LP owned approximately 3.67% of Acadian Asset Management worth $71,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AAMI. The Manufacturers Life Insurance Company raised its holdings in Acadian Asset Management by 6.0% in the first quarter. The Manufacturers Life Insurance Company now owns 12,937 shares of the company's stock valued at $704,000 after buying an additional 736 shares during the period. Quantinno Capital Management LP grew its stake in Acadian Asset Management by 18.2% during the first quarter. Quantinno Capital Management LP now owns 22,582 shares of the company's stock worth $1,229,000 after buying an additional 3,482 shares during the period. Cannell & Spears LLC grew its stake in Acadian Asset Management by 42.8% during the first quarter. Cannell & Spears LLC now owns 84,513 shares of the company's stock worth $4,418,000 after buying an additional 25,316 shares during the period. Morningstar Investment Management LLC acquired a new stake in shares of Acadian Asset Management in the first quarter worth $337,000. Finally, Sei Investments Co. increased its position in shares of Acadian Asset Management by 58.5% in the first quarter. Sei Investments Co. now owns 26,930 shares of the company's stock worth $1,466,000 after acquiring an additional 9,937 shares in the last quarter. Institutional investors and hedge funds own 98.69% of the company's stock.

Acadian Asset Management Trading Up 2.4%

AAMI stock opened at $82.79 on Tuesday. The firm has a 50 day simple moving average of $76.37 and a 200-day simple moving average of $63.92. The company has a market capitalization of $2.95 billion, a P/E ratio of 35.23 and a beta of 1.32. Acadian Asset Management Inc. has a twelve month low of $39.20 and a twelve month high of $85.73.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on AAMI shares. Evercore set a $84.00 target price on shares of Acadian Asset Management in a report on Friday, July 10th. Morgan Stanley increased their price target on Acadian Asset Management from $60.00 to $78.00 and gave the company an "equal weight" rating in a report on Friday, June 26th. Wall Street Zen raised Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research report on Sunday, May 10th. Royal Bank Of Canada boosted their price objective on Acadian Asset Management from $66.00 to $72.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 2nd. Finally, Weiss Ratings downgraded Acadian Asset Management from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, May 11th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $78.00.

Insider Activity

In other 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 value of $6,697,000.00. Following the sale, the chief accounting officer owned 73,863 shares in the company, valued at approximately $4,946,605.11. This represents a 57.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 22.60% of the company's stock.

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.

Want to see what other hedge funds are holding AAMI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Acadian Asset Management Inc. (NYSE:AAMI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source