Short Interest in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Drops By 20.1%

Key Points

• Short interest in Silvercrest Asset Management Group Inc. (SAMG) dropped by 20.1% in August, totaling 55,700 shares as of August 31st.
• The company announced a quarterly dividend increase to $0.21 per share, with a dividend yield of 5.1%, payable on September 19th.
• Approximately 47.59% of Silvercrest's stock is owned by institutional investors, with notable increases in holdings by several firms in the second quarter.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 55,700 shares, a drop of 20.1% from the August 15th total of 69,700 shares. Based on an average daily volume of 36,800 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.7% of the shares of the stock are short sold. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily volume of 36,800 shares, the days-to-cover ratio is presently 1.5 days.

Silvercrest Asset Management Group Stock Down 3.3%

Shares of NASDAQ SAMG traded down $0.55 during trading on Friday, hitting $15.94. The company had a trading volume of 82,882 shares, compared to its average volume of 20,658. The stock has a fifty day simple moving average of $16.34 and a two-hundred day simple moving average of $15.81. Silvercrest Asset Management Group has a fifty-two week low of $13.54 and a fifty-two week high of $19.20. The firm has a market capitalization of $200.37 million, a price-to-earnings ratio of 18.11 and a beta of 0.81.

Silvercrest Asset Management Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 12th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 12th. This is a boost from Silvercrest Asset Management Group's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 5.3%. Silvercrest Asset Management Group's dividend payout ratio (DPR) is presently 95.45%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Gabelli Funds LLC raised its stake in Silvercrest Asset Management Group by 629.9% during the second quarter. Gabelli Funds LLC now owns 184,887 shares of the asset manager's stock worth $2,932,000 after purchasing an additional 159,555 shares during the period. Marshall Wace LLP purchased a new stake in Silvercrest Asset Management Group during the 2nd quarter worth approximately $1,014,000. Hsbc Holdings PLC increased its stake in Silvercrest Asset Management Group by 191.9% during the 2nd quarter. Hsbc Holdings PLC now owns 65,249 shares of the asset manager's stock worth $1,045,000 after buying an additional 42,898 shares during the period. Nuveen LLC purchased a new stake in Silvercrest Asset Management Group during the 1st quarter worth approximately $331,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Silvercrest Asset Management Group during the 2nd quarter worth approximately $316,000. 47.59% of the stock is currently owned by institutional investors and hedge funds.

Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group Inc, a wealth management firm, provides financial advisory and related family office services in the United States. The company serves ultra-high net worth individuals and families, as well as their trusts; endowments; foundations; and other institutional investors.