Silvercrest Asset Management Group (NASDAQ:SAMG) Share Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Silvercrest Asset Management Group shares fell below their 200-day moving average, reaching $9.97 before last trading at $10.03, compared with a 200-day average of $11.91.
• Analyst sentiment remains cautious: ratings include one Hold and one Sell, producing an overall “Reduce” consensus. The company’s latest quarterly results met EPS expectations at $0.10, while revenue of $30.78 million was slightly below estimates.
• Silvercrest declared a quarterly dividend of $0.21, equivalent to $0.84 annually and an 8.4% yield; however, its dividend payout ratio is exceptionally high at 763.64%.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.91 and traded as low as $9.97. Silvercrest Asset Management Group shares last traded at $10.03, with a volume of 71,513 shares traded.

Analyst Upgrades and Downgrades

SAMG has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Silvercrest Asset Management Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings downgraded shares of Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, August 20th. Finally, Zacks Research upgraded Silvercrest Asset Management Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce".

Silvercrest Asset Management Group Stock Down 1.4%

The stock has a market capitalization of $118.86 million, a P/E ratio of 91.19 and a beta of 0.64. The firm's 50-day simple moving average is $10.18 and its 200 day simple moving average is $11.91.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last issued its earnings results on Friday, July 31st. The asset manager reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $30.78 million during the quarter, compared to analysts' expectations of $30.90 million. Silvercrest Asset Management Group had a net margin of 0.72% and a return on equity of 8.71%. As a group, equities analysts anticipate that Silvercrest Asset Management Group Inc. will post 0.47 EPS for the current fiscal year.

Silvercrest Asset Management Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 11th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.84 dividend on an annualized basis and a yield of 8.4%. Silvercrest Asset Management Group's dividend payout ratio (DPR) is currently 763.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ancora Advisors LLC acquired a new stake in Silvercrest Asset Management Group in the 2nd quarter worth approximately $28,000. Russell Investments Group Ltd. raised its position in shares of Silvercrest Asset Management Group by 64.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager's stock valued at $31,000 after purchasing an additional 798 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Silvercrest Asset Management Group by 28.2% in the fourth quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager's stock worth $117,000 after buying an additional 1,702 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Silvercrest Asset Management Group by 1,200.0% in the second quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager's stock worth $149,000 after buying an additional 8,652 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new position in Silvercrest Asset Management Group in the 2nd quarter worth $167,000. 47.59% of the stock is currently owned by institutional investors and hedge funds.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group Inc, headquartered in New York City, is an independent registered investment adviser that specializes in delivering customized wealth and asset management solutions for high-net-worth individuals, family offices and institutional clients. Founded in 2002 by senior professionals from leading financial institutions, Silvercrest has built its reputation on a disciplined, research-driven investment process and a commitment to personalized client service.

The firm's core offerings include discretionary and non-discretionary portfolio management across equities, fixed income, hedge funds and alternative investments.

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