Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Price Passes Below 200-Day Moving Average - Here's What Happened

Key Points

• Silvercrest Asset Management Group (NASDAQ:SAMG) fell below its 200-day moving average, trading as low as $10.45 and last changing hands near $10.49, well under the $13.48 long-term trend line.
• Sentiment around the stock has weakened, with multiple analysts cutting ratings to sell or strong sell; MarketBeat now shows a consensus rating of Sell.
• The company recently missed earnings expectations, reporting $0.12 EPS versus $0.21 expected, while also maintaining a high 8.0% dividend yield that comes with a very elevated payout ratio of 280%.

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report)'s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.48 and traded as low as $10.45. Silvercrest Asset Management Group shares last traded at $10.49, with a volume of 65,888 shares trading hands.

Analysts Set New Price Targets

SAMG has been the topic of several research reports. Wall Street Zen cut shares of Silvercrest Asset Management Group from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. Weiss Ratings lowered Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, May 27th. Finally, Zacks Research lowered Silvercrest Asset Management Group from a "hold" rating to a "strong sell" rating in a report on Monday, June 29th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, Silvercrest Asset Management Group presently has a consensus rating of "Sell".

Silvercrest Asset Management Group Price Performance

The company has a market cap of $124.31 million, a PE ratio of 34.97 and a beta of 0.66. The stock has a 50 day simple moving average of $11.45 and a two-hundred day simple moving average of $13.48.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last announced its earnings results on Monday, May 11th. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.09). The business had revenue of $31.41 million for the quarter, compared to analysts' expectations of $31.85 million. Silvercrest Asset Management Group had a return on equity of 10.51% and a net margin of 2.12%. As a group, equities analysts anticipate that Silvercrest Asset Management Group Inc. will post 0.53 EPS for the current fiscal year.

Silvercrest Asset Management Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 12th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend was Friday, June 12th. Silvercrest Asset Management Group's dividend payout ratio (DPR) is presently 280.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Punch & Associates Investment Management Inc. acquired a new stake in shares of Silvercrest Asset Management Group during the first quarter worth about $3,293,000. Renaissance Technologies LLC increased its position in Silvercrest Asset Management Group by 3.0% in the 1st quarter. Renaissance Technologies LLC now owns 161,737 shares of the asset manager's stock valued at $2,174,000 after acquiring an additional 4,700 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Silvercrest Asset Management Group by 12.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 29,572 shares of the asset manager's stock valued at $397,000 after acquiring an additional 3,191 shares during the last quarter. Cetera Investment Advisers purchased a new stake in Silvercrest Asset Management Group during the 1st quarter valued at approximately $192,000. Finally, North Star Investment Management Corp. acquired a new stake in Silvercrest Asset Management Group during the 1st quarter worth approximately $1,478,000. 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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