Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Rating Upgraded by Zacks Research

Key Points

• Zacks Research upgraded Silvercrest Asset Management Group from “strong sell” to “hold,” although other firms recently rated the stock “sell.” The overall analyst consensus remains “Reduce.”
• Silvercrest shares opened at $9.98, near their 52-week low of $9.57 and below the 50-day and 200-day moving averages. The company reported quarterly EPS of $0.12, missing the $0.21 consensus estimate, while revenue was also slightly below expectations.
• Institutional investors have recently established new positions in the company, and hedge funds and other institutions now own approximately 47.59% of SAMG’s outstanding shares.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) was upgraded by analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other research firms also recently weighed in on SAMG. Weiss Ratings downgraded shares of Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, May 27th. Wall Street Zen lowered Silvercrest Asset Management Group from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Silvercrest Asset Management Group currently has a consensus rating of "Reduce".

Silvercrest Asset Management Group Price Performance

Shares of Silvercrest Asset Management Group stock opened at $9.98 on Tuesday. The firm has a market cap of $118.26 million, a PE ratio of 33.27 and a beta of 0.66. Silvercrest Asset Management Group has a 1 year low of $9.57 and a 1 year high of $16.99. The stock has a fifty day moving average price of $10.69 and a 200-day moving average price of $12.95.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The asset manager reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.09). The company had revenue of $31.41 million during 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 will post 0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several institutional investors have recently made changes to their positions in SAMG. Punch & Associates Investment Management Inc. bought a new position in shares of Silvercrest Asset Management Group in the first quarter worth $3,293,000. Rothschild Wealth LLC bought a new stake in shares of Silvercrest Asset Management Group during the 4th quarter valued at $1,950,000. North Star Investment Management Corp. bought a new stake in shares of Silvercrest Asset Management Group during the 1st quarter valued at $1,478,000. Marshall Wace LLP purchased a new stake in Silvercrest Asset Management Group during the 2nd quarter worth about $1,014,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Silvercrest Asset Management Group during the 2nd quarter worth about $316,000. 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, 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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