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

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

Silvercrest Asset Management Group Stock Up 1.0 %

NASDAQ SAMG traded up $0.16 during trading hours on Monday, reaching $16.57. The company’s stock had a trading volume of 11,303 shares, compared to its average volume of 26,212. The firm’s 50-day moving average price is $16.72 and its 200-day moving average price is $15.94. Silvercrest Asset Management Group has a 1 year low of $13.93 and a 1 year high of $18.09. The company has a market capitalization of $231.81 million, a price-to-earnings ratio of 20.71 and a beta of 0.83.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings data on Thursday, August 1st. The asset manager reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.10). Silvercrest Asset Management Group had a return on equity of 11.41% and a net margin of 6.24%. The firm had revenue of $30.99 million during the quarter, compared to the consensus estimate of $30.68 million. During the same period in the previous year, the firm earned $0.34 EPS.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Large investors have recently modified their holdings of the stock. First Personal Financial Services boosted its holdings in Silvercrest Asset Management Group by 50.0% during the 2nd quarter. First Personal Financial Services now owns 6,000 shares of the asset manager’s stock valued at $94,000 after acquiring an additional 2,000 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Silvercrest Asset Management Group by 8.9% in the 1st quarter. BNP Paribas Financial Markets now owns 8,450 shares of the asset manager’s stock worth $134,000 after buying an additional 692 shares during the period. Heron Bay Capital Management purchased a new stake in shares of Silvercrest Asset Management Group during the 1st quarter worth $162,000. Rhumbline Advisers lifted its stake in shares of Silvercrest Asset Management Group by 15.7% during the 2nd quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock worth $237,000 after purchasing an additional 2,072 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Silvercrest Asset Management Group during the 2nd quarter valued at about $270,000. Institutional investors own 47.59% of the company’s stock.

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.