SummerHaven Investment Management LLC Takes $1.25 Million Position in Acadian Asset Management Inc. $AAMI

Key Points

• SummerHaven Investment Management LLC has acquired a new stake in Acadian Asset Management Inc., purchasing 35,404 shares valued at approximately $1.25 million, making it the firm's 14th largest position.
• Analysts have raised their price targets for Acadian Asset Management, with Royal Bank of Canada increasing its target from $34 to $42, while the average price target now stands at $40.
• Acadian Asset Management reported a quarterly earnings per share of $0.64, surpassing analysts' expectations of $0.52, and announced a quarterly dividend of $0.01, with a yield of 0.1%.

SummerHaven Investment Management LLC bought a new stake in shares of Acadian Asset Management Inc. (NYSE:AAMI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 35,404 shares of the company's stock, valued at approximately $1,248,000. Acadian Asset Management accounts for about 0.8% of SummerHaven Investment Management LLC's portfolio, making the stock its 14th largest position. SummerHaven Investment Management LLC owned approximately 0.10% of Acadian Asset Management as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AAMI. Signaturefd LLC acquired a new stake in shares of Acadian Asset Management in the second quarter valued at about $25,000. GAMMA Investing LLC acquired a new position in Acadian Asset Management during the second quarter worth about $37,000. Public Employees Retirement System of Ohio acquired a new position in Acadian Asset Management during the second quarter worth about $44,000. Kendall Capital Management purchased a new stake in Acadian Asset Management during the 2nd quarter valued at about $357,000. Finally, State of Alaska Department of Revenue purchased a new stake in Acadian Asset Management during the 2nd quarter valued at about $562,000. 98.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AAMI has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price target on Acadian Asset Management from $34.00 to $42.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Wall Street Zen upgraded Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Evercore ISI restated a "positive" rating on shares of Acadian Asset Management in a research report on Friday, September 5th. Finally, Morgan Stanley upped their price target on Acadian Asset Management from $27.00 to $30.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 2nd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Acadian Asset Management has an average rating of "Hold" and an average price target of $40.00.

Acadian Asset Management Stock Performance

AAMI opened at $48.96 on Monday. Acadian Asset Management Inc. has a one year low of $22.60 and a one year high of $51.65. The stock has a market capitalization of $1.75 billion, a PE ratio of 20.40 and a beta of 1.42. The business's 50 day moving average price is $46.11 and its 200 day moving average price is $35.62.

Acadian Asset Management (NYSE:AAMI - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.12. The firm had revenue of $124.90 million for the quarter, compared to analysts' expectations of $118.07 million. Acadian Asset Management had a return on equity of 174.31% and a net margin of 16.65%. As a group, equities research analysts forecast that Acadian Asset Management Inc. will post 2.78 earnings per share for the current fiscal year.

Acadian Asset Management Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.1%. Acadian Asset Management's payout ratio is presently 1.67%.

About Acadian Asset Management

Acadian Asset Management Inc is a publically owned asset management holding company. The firm provides its services to individuals and institutions. It manages separate client focused portfolios through its subsidiaries. The firm also launches equity mutual funds for its clients. It invests in public equity, fixed income, and alternative investment markets through its subsidiaries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.