Morgan Stanley Issues Positive Forecast for Acadian Asset Management (NYSE:AAMI) Stock Price

Key Points

• Morgan Stanley has raised its target price for Acadian Asset Management's stock from $40.00 to $43.00, maintaining an "equal weight" rating despite suggesting a potential downside of 5.49% from the last close.
• Other analysts, including Evercore ISI and Wall Street Zen, have issued positive ratings, with Wall Street Zen upgrading it to a "strong-buy".
• Acadian reported earnings of $0.64 per share, exceeding estimates, and had a revenue of $124.90 million during the last quarter, indicating strong financial performance.

Acadian Asset Management (NYSE:AAMI - Get Free Report) had its target price raised by equities researchers at Morgan Stanley from $40.00 to $43.00 in a research note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has an "equal weight" rating on the stock. Morgan Stanley's price target suggests a potential downside of 5.49% from the company's previous close.

Other equities analysts have also issued research reports about the stock. Evercore ISI reissued a "positive" rating on shares of Acadian Asset Management in a report on Friday, September 5th. Wall Street Zen raised Acadian Asset Management from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Royal Bank Of Canada raised their price target on shares of Acadian Asset Management from $34.00 to $42.00 and gave the stock a "sector perform" rating in a report on Friday, August 1st. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Acadian Asset Management in a research report on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $44.33.

Acadian Asset Management Price Performance

NYSE:AAMI traded down $0.74 on Monday, reaching $45.50. 10,649 shares of the company's stock were exchanged, compared to its average volume of 259,301. The stock has a fifty day simple moving average of $46.86 and a 200-day simple moving average of $36.38. Acadian Asset Management has a 52 week low of $22.60 and a 52 week high of $51.65. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 18.96 and a beta of 1.39.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AAMI. Exchange Traded Concepts LLC purchased a new stake in shares of Acadian Asset Management in the second quarter worth approximately $1,882,000. GAMMA Investing LLC bought a new stake in Acadian Asset Management during the second quarter valued at about $37,000. Public Employees Retirement System of Ohio purchased a new stake in Acadian Asset Management during the second quarter valued at approximately $44,000. State of Alaska Department of Revenue purchased a new position in shares of Acadian Asset Management in the second quarter worth $562,000. Finally, Kendall Capital Management purchased a new stake in Acadian Asset Management during the 2nd quarter valued at about $357,000. 98.69% of the stock is owned by hedge funds and other institutional investors.

Acadian Asset Management Company Profile

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.

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