Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Short Interest Update

Key Points

• Silvercrest Asset Management Group's short interest decreased by 39.9% in September, with the current total standing at 49,200 shares.
• The company has announced an increase in its quarterly dividend to $0.21 per share, reflecting a yield of 5.8%.
• Wall Street analysts have given Silvercrest Asset Management Group a consensus rating of "Hold".

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 49,200 shares, a decrease of 39.9% from the September 15th total of 81,800 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average trading volume of 24,000 shares, the days-to-cover ratio is presently 2.1 days. Based on an average trading volume of 24,000 shares, the days-to-cover ratio is presently 2.1 days. Approximately 0.6% of the shares of the company are short sold.

Silvercrest Asset Management Group Price Performance

SAMG opened at $14.51 on Tuesday. The firm has a fifty day moving average price of $15.84 and a 200 day moving average price of $15.60. Silvercrest Asset Management Group has a 1 year low of $13.54 and a 1 year high of $19.20. The stock has a market cap of $182.39 million, a P/E ratio of 16.49 and a beta of 0.75.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The asset manager reported $0.30 earnings per share for the quarter, meeting analysts' consensus estimates of $0.30. The company had revenue of $30.67 million during the quarter, compared to analysts' expectations of $30.77 million. Silvercrest Asset Management Group had a net margin of 6.63% and a return on equity of 12.03%.

Silvercrest Asset Management Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 12th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 12th. This is a positive change from Silvercrest Asset Management Group's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 5.8%. Silvercrest Asset Management Group's payout ratio is 95.45%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Silvercrest Asset Management Group in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Silvercrest Asset Management Group currently has a consensus rating of "Hold".

Institutional Trading of Silvercrest Asset Management Group

Institutional investors and hedge funds have recently modified their holdings of the stock. Police & Firemen s Retirement System of New Jersey purchased a new position in Silvercrest Asset Management Group in the 2nd quarter valued at about $34,000. BNP Paribas Financial Markets raised its position 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 valued at $149,000 after buying an additional 8,652 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Silvercrest Asset Management Group in the second quarter worth about $167,000. Jane Street Group LLC acquired a new position in Silvercrest Asset Management Group during the first quarter worth about $242,000. Finally, R Squared Ltd grew its stake in Silvercrest Asset Management Group by 126.9% during the 1st quarter. R Squared Ltd now owns 15,111 shares of the asset manager's stock valued at $247,000 after acquiring an additional 8,451 shares in the last quarter. Hedge funds and other institutional investors own 47.59% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.