Silvercrest Asset Management Group (NASDAQ:SAMG) Major Shareholder Equinox Partners Investment Ma Buys 32,499 Shares of Stock

Key Points

• Equinox Partners Investment Management bought 32,499 SAMG shares at an average $10.45 each, investing approximately $339,615 and increasing its direct stake to 867,197 shares.
• Silvercrest reported quarterly EPS of $0.16, beating the $0.12 consensus estimate, while revenue of $32.71 million also exceeded expectations of $31.85 million.
• SAMG shares fell 0.9% to $10.35, and analyst sentiment remained cautious, with one Hold and one Sell rating producing a consensus “Reduce” recommendation.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) major shareholder Equinox Partners Investment Ma bought 32,499 shares of Silvercrest Asset Management Group stock in a transaction dated Thursday, October 29th. The shares were bought at an average price of $10.45 per share, for a total transaction of $339,614.55. Following the completion of the transaction, the insider directly owned 867,197 shares of the company's stock, valued at $9,062,208.65. This represents a 3.89% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

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

• On Tuesday, October 27th, Equinox Partners Investment Ma bought 899 shares of Silvercrest Asset Management Group stock. The stock was purchased at an average cost of $10.10 per share, with a total value of $9,079.90.
• On Thursday, October 22nd, Equinox Partners Investment Ma purchased 3,322 shares of Silvercrest Asset Management Group stock. The stock was bought at an average price of $10.42 per share, with a total value of $34,615.24.
• On Wednesday, October 21st, Equinox Partners Investment Ma purchased 14,744 shares of Silvercrest Asset Management Group stock. The shares were acquired at an average cost of $10.33 per share, with a total value of $152,305.52.
• 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, for a total transaction 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 bought at an average price of $10.47 per share, for a total transaction of $59,595.24.

Silvercrest Asset Management Group Trading Down 0.9%

NASDAQ SAMG traded down $0.09 during trading on Thursday, reaching $10.35. The company's stock had a trading volume of 99,498 shares, compared to its average volume of 54,807. The firm has a 50 day moving average price of $10.13 and a 200 day moving average price of $12.05. Silvercrest Asset Management Group Inc. has a 12 month low of $9.09 and a 12 month high of $16.16. The firm has a market capitalization of $122.65 million, a price-to-earnings ratio of 94.10 and a beta of 0.64.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last issued its earnings results on Thursday, October 29th. The asset manager reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The firm had revenue of $32.71 million during the quarter, compared to the consensus estimate of $31.85 million. Silvercrest Asset Management Group had a return on equity of 8.71% and a net margin of 0.72%. On average, equities analysts forecast that Silvercrest Asset Management Group Inc. will post 0.47 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SAMG shares. Weiss Ratings lowered Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, August 20th. Wall Street Zen upgraded Silvercrest Asset Management Group from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Finally, 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. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Reduce".

Hedge Funds Weigh In On Silvercrest Asset Management Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Silvercrest Asset Management Group in the third quarter valued at about $40,000. Ancora Advisors LLC purchased a new stake in Silvercrest Asset Management Group in the 2nd quarter worth $28,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Silvercrest Asset Management Group in the 2nd quarter valued at about $3,655,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Silvercrest Asset Management Group in the first quarter worth approximately $3,293,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Silvercrest Asset Management Group by 3.0% in 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 in the last quarter. Institutional investors own 47.59% of the company's stock.

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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