Insider Buying: Silvercrest Asset Management Group (NASDAQ:SAMG) Major Shareholder Acquires 14,744 Shares of Company Stock

Key Points

• Equinox Partners Investment Management purchased 14,744 Silvercrest shares at an average $10.33 each, investing approximately $152,306 and increasing its direct ownership by 1.81% to 830,477 shares. The major shareholder also made three additional purchases during the period.
• Silvercrest shares recently traded at $10.12, near their 52-week low, while the company reported quarterly EPS of $0.10 and revenue of $30.78 million, roughly in line with analyst expectations.
• The company pays an annualized dividend of $0.84 per share, yielding about 8.3%, but its payout ratio is exceptionally high at 763.64%. Analysts’ consensus rating is “Reduce,” with one Hold and one Sell rating.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) major shareholder Equinox Partners Investment Ma bought 14,744 shares of the firm's stock in a transaction on Wednesday, October 21st. The stock was bought at an average cost of $10.33 per share, for a total transaction of $152,305.52. Following the transaction, the insider directly owned 830,477 shares of the company's stock, valued at $8,578,827.41. The trade was a 1.81% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Equinox Partners Investment Ma also recently made the following trade(s):

• On Thursday, October 22nd, Equinox Partners Investment Ma purchased 3,322 shares of Silvercrest Asset Management Group stock. The shares were purchased at an average price of $10.42 per share, for a total transaction of $34,615.24.
• On Tuesday, October 20th, Equinox Partners Investment Ma bought 10,368 shares of Silvercrest Asset Management Group stock. The shares were purchased at an average price of $10.24 per share, with a total value of $106,168.32.
• On Thursday, October 15th, Equinox Partners Investment Ma acquired 5,692 shares of Silvercrest Asset Management Group stock. The stock was acquired at an average price of $10.47 per share, with a total value of $59,595.24.

Silvercrest Asset Management Group Stock Performance

Shares of Silvercrest Asset Management Group stock traded down $0.51 during trading hours on Friday, reaching $10.12. 75,926 shares of the company were exchanged, compared to its average volume of 54,403. The firm has a market cap of $119.92 million, a PE ratio of 92.01 and a beta of 0.64. Silvercrest Asset Management Group Inc. has a 1 year low of $9.09 and a 1 year high of $16.16. The stock's fifty day moving average is $10.13 and its 200 day moving average is $10.97.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last announced its quarterly earnings data on Friday, July 31st. The asset manager reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. Silvercrest Asset Management Group had a net margin of 0.72% and a return on equity of 8.71%. The company had revenue of $30.78 million for the quarter, compared to the consensus estimate of $30.90 million. Research analysts expect that Silvercrest Asset Management Group Inc. will post 0.47 earnings per share for the current year.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 11th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 11th. This represents a $0.84 annualized dividend and a dividend yield of 8.3%. Silvercrest Asset Management Group's dividend payout ratio is 763.64%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several hedge funds have recently modified their holdings of SAMG. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in shares of Silvercrest Asset Management Group during the second quarter worth $3,655,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of Silvercrest Asset Management Group in the first quarter valued at $3,293,000. North Star Investment Management Corp. acquired a new position in Silvercrest Asset Management Group in the first quarter valued at $1,478,000. Cetera Investment Advisers acquired a new position in Silvercrest Asset Management Group in the first quarter valued at $192,000. Finally, Renaissance Technologies LLC lifted its position in Silvercrest Asset Management Group by 3.0% during the first quarter. Renaissance Technologies LLC now owns 161,737 shares of the asset manager's stock worth $2,174,000 after buying an additional 4,700 shares during the period. 47.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SAMG. Zacks Research upgraded shares of Silvercrest Asset Management Group from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 28th. Wall Street Zen raised shares of Silvercrest Asset Management Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Finally, 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. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce".

About Silvercrest Asset Management Group

Silvercrest Asset Management Group, Inc is a wealth management and investment advisory firm serving high-net-worth individuals, families, family offices, foundations, endowments and other institutional clients. The company provides customized portfolio management and broader wealth planning services designed to address clients' investment, tax, estate and philanthropic objectives.

Silvercrest offers investment strategies across publicly traded equities, fixed income and alternative investments.

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