StockNews.com Lowers Silvercrest Asset Management Group (NASDAQ:SAMG) to Buy

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Thursday.

Separately, Piper Sandler dropped their price target on Silvercrest Asset Management Group from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Monday, July 11th.

Silvercrest Asset Management Group Stock Performance

SAMG traded down $0.48 on Thursday, hitting $17.51. The company had a trading volume of 25,772 shares, compared to its average volume of 44,017. The stock has a fifty day moving average price of $18.14 and a 200-day moving average price of $19.06. Silvercrest Asset Management Group has a 12-month low of $15.04 and a 12-month high of $22.68. The stock has a market capitalization of $254.14 million, a price-to-earnings ratio of 7.75 and a beta of 0.79.

Silvercrest Asset Management Group (NASDAQ:SAMGGet Rating) last posted its earnings results on Thursday, July 28th. The asset manager reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.02). Silvercrest Asset Management Group had a net margin of 16.66% and a return on equity of 22.97%. The company had revenue of $32.17 million during the quarter, compared to analysts’ expectations of $31.24 million. During the same quarter last year, the firm earned $0.45 EPS. Analysts forecast that Silvercrest Asset Management Group will post 1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of large investors have recently modified their holdings of SAMG. JPMorgan Chase & Co. grew its stake in shares of Silvercrest Asset Management Group by 140.6% during the first quarter. JPMorgan Chase & Co. now owns 1,376 shares of the asset manager’s stock worth $28,000 after acquiring an additional 804 shares during the last quarter. Denali Advisors LLC acquired a new stake in shares of Silvercrest Asset Management Group during the second quarter worth about $31,000. Dorsey Wright & Associates acquired a new stake in shares of Silvercrest Asset Management Group during the second quarter worth about $34,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Silvercrest Asset Management Group by 2,221.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,321 shares of the asset manager’s stock worth $38,000 after purchasing an additional 2,221 shares during the period. Finally, Toth Financial Advisory Corp lifted its holdings in shares of Silvercrest Asset Management Group by 560.0% during the second quarter. Toth Financial Advisory Corp now owns 3,300 shares of the asset manager’s stock worth $54,000 after purchasing an additional 2,800 shares during the period. Hedge funds and other institutional investors own 52.87% of the company’s stock.

Silvercrest Asset Management Group Company Profile

(Get Rating)

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.

Featured Stories

Receive News & Ratings for Silvercrest Asset Management Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Silvercrest Asset Management Group and related companies with MarketBeat.com's FREE daily email newsletter.