Short Interest in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Drops By 25.8%

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the recipient of a large decline in short interest in the month of December. As of December 31st, there was short interest totaling 78,161 shares, a decline of 25.8% from the December 15th total of 105,308 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 49,901 shares, the days-to-cover ratio is presently 1.6 days. Based on an average daily trading volume, of 49,901 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.8% of the company’s shares are sold short.

Silvercrest Asset Management Group Price Performance

Shares of SAMG stock traded up $0.20 on Friday, hitting $15.54. The stock had a trading volume of 23,288 shares, compared to its average volume of 37,008. The company’s 50 day moving average price is $14.72 and its 200-day moving average price is $15.40. Silvercrest Asset Management Group has a 1 year low of $13.23 and a 1 year high of $19.03. The firm has a market capitalization of $190.21 million, a P/E ratio of 21.89 and a beta of 0.68.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its earnings results on Friday, October 31st. The asset manager reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.10). The firm had revenue of $31.30 million for the quarter, compared to analysts’ expectations of $32.12 million. Silvercrest Asset Management Group had a net margin of 5.28% and a return on equity of 11.56%.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 12th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, December 12th. This represents a $0.84 dividend on an annualized basis and a yield of 5.4%. Silvercrest Asset Management Group’s dividend payout ratio is 118.31%.

Analyst Upgrades and Downgrades

SAMG has been the subject of a number of research analyst reports. Zacks Research upgraded Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Silvercrest Asset Management Group currently has a consensus rating of “Hold”.

Insider Buying and Selling

In other Silvercrest Asset Management Group news, Director John Allen Gray acquired 15,000 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average cost of $13.66 per share, for a total transaction of $204,900.00. Following the completion of the transaction, the director owned 36,110 shares of the company’s stock, valued at approximately $493,262.60. The trade was a 71.06% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 21,785 shares of company stock valued at $298,762 in the last 90 days. Corporate insiders own 20.40% of the company’s stock.

Institutional Trading of Silvercrest Asset Management Group

Large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its holdings in Silvercrest Asset Management Group by 9.3% in the third quarter. JPMorgan Chase & Co. now owns 15,524 shares of the asset manager’s stock valued at $245,000 after purchasing an additional 1,315 shares during the period. Millennium Management LLC raised its position in Silvercrest Asset Management Group by 29.1% in the 3rd quarter. Millennium Management LLC now owns 29,928 shares of the asset manager’s stock valued at $471,000 after purchasing an additional 6,753 shares in the last quarter. Boston Partners boosted its stake in shares of Silvercrest Asset Management Group by 5.7% in the 3rd quarter. Boston Partners now owns 212,557 shares of the asset manager’s stock valued at $3,348,000 after buying an additional 11,457 shares during the period. Teton Advisors LLC acquired a new position in shares of Silvercrest Asset Management Group during the third quarter worth about $866,000. Finally, Ritholtz Wealth Management grew its position in shares of Silvercrest Asset Management Group by 5.3% during the third quarter. Ritholtz Wealth Management now owns 19,144 shares of the asset manager’s stock worth $302,000 after buying an additional 963 shares in the last quarter. 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.