Silvercrest Asset Management Group (NASDAQ:SAMG) Raised to Strong-Buy at StockNews.com

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Silvercrest Asset Management Group Stock Up 0.2 %

Shares of SAMG opened at $17.63 on Wednesday. The company has a market cap of $244.44 million, a PE ratio of 22.04 and a beta of 0.84. The business has a fifty day moving average of $18.16 and a 200 day moving average of $17.64. Silvercrest Asset Management Group has a 52-week low of $13.93 and a 52-week high of $19.20.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its earnings results on Thursday, March 6th. The asset manager reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.13). Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%. The business had revenue of $31.96 million for the quarter, compared to the consensus estimate of $31.97 million.

Institutional Trading of Silvercrest Asset Management Group

Several institutional investors and hedge funds have recently made changes to their positions in SAMG. Wells Fargo & Company MN increased its stake in shares of Silvercrest Asset Management Group by 28.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after buying an additional 1,236 shares during the period. R Squared Ltd purchased a new position in Silvercrest Asset Management Group in the fourth quarter valued at about $122,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in Silvercrest Asset Management Group by 30.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock valued at $253,000 after purchasing an additional 3,446 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Silvercrest Asset Management Group by 72.0% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 19,856 shares of the asset manager’s stock valued at $365,000 after purchasing an additional 8,313 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in Silvercrest Asset Management Group by 5.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager’s stock valued at $368,000 after purchasing an additional 1,000 shares during the last quarter. 47.59% of the stock is currently owned by institutional investors.

About Silvercrest Asset Management Group

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.