Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded to Strong-Buy at Zacks Research

Key Points

• Zacks upgraded Silvercrest (NASDAQ:SAMG) from "hold" to Strong-Buy while Weiss Ratings recently downgraded the stock to a Sell, leaving a MarketBeat consensus of "Moderate Buy" based on one Strong Buy and one Sell.
• Silvercrest's most recent quarter missed estimates (EPS $0.18 vs. $0.23 consensus; revenue $31.96M vs. $32.06M) and the stock is trading around $13.31 with a market cap of ~$157M, a P/E of 25.11, and near its 12‑month low of $13.00.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Separately, Weiss Ratings lowered Silvercrest Asset Management Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, Silvercrest Asset Management Group has a consensus rating of "Moderate Buy".

Silvercrest Asset Management Group Trading Up 0.6%

Shares of NASDAQ:SAMG opened at $13.31 on Wednesday. The stock has a market capitalization of $156.92 million, a P/E ratio of 25.11 and a beta of 0.71. Silvercrest Asset Management Group has a 12-month low of $13.00 and a 12-month high of $16.99. The stock's 50-day moving average price is $14.81 and its 200-day moving average price is $14.87.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last announced its quarterly earnings results on Monday, March 16th. The asset manager reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.23 by ($0.05). The company had revenue of $31.96 million during the quarter, compared to analysts' expectations of $32.06 million. Silvercrest Asset Management Group had a return on equity of 11.99% and a net margin of 3.90%.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its position in shares of Silvercrest Asset Management Group by 64.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager's stock worth $31,000 after buying an additional 798 shares during the period. Police & Firemen s Retirement System of New Jersey purchased a new position in Silvercrest Asset Management Group during the 2nd quarter valued at about $34,000. Wells Fargo & Company MN boosted its stake in Silvercrest Asset Management Group by 28.2% during the fourth quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager's stock worth $117,000 after acquiring an additional 1,702 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in 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 purchasing an additional 8,652 shares during the period. Finally, Engineers Gate Manager LP bought a new position in shares of Silvercrest Asset Management Group during the second quarter valued at approximately $167,000. Hedge funds and other institutional investors own 47.59% of the company's stock.

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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