Short Interest in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Grows By 21.4%

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 94,907 shares, a growth of 21.4% from the December 31st total of 78,161 shares. Based on an average daily volume of 32,117 shares, the days-to-cover ratio is currently 3.0 days. Approximately 1.0% of the shares of the company are short sold. Approximately 1.0% of the shares of the company are short sold. Based on an average daily volume of 32,117 shares, the days-to-cover ratio is currently 3.0 days.

Insider Buying and Selling

In other Silvercrest Asset Management Group news, Director John Allen Gray bought 15,000 shares of the stock in a transaction on Wednesday, November 26th. The stock was purchased at an average price of $13.66 per share, for a total transaction of $204,900.00. Following the completion of the purchase, the director directly owned 36,110 shares in the company, valued at approximately $493,262.60. This trade represents a 71.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have acquired a total of 21,785 shares of company stock valued at $298,762 over the last three months. Insiders own 20.40% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Gabelli Funds LLC grew its stake in Silvercrest Asset Management Group by 629.9% in the 2nd quarter. Gabelli Funds LLC now owns 184,887 shares of the asset manager’s stock valued at $2,932,000 after buying an additional 159,555 shares during the last quarter. Bailard Inc. acquired a new stake in Silvercrest Asset Management Group in the 2nd quarter valued at approximately $269,000. Ritholtz Wealth Management bought a new position in Silvercrest Asset Management Group in the 2nd quarter worth approximately $288,000. Hsbc Holdings PLC lifted its holdings in shares of Silvercrest Asset Management Group by 191.9% during the second quarter. Hsbc Holdings PLC now owns 65,249 shares of the asset manager’s stock worth $1,045,000 after buying an additional 42,898 shares during the last quarter. Finally, Roberts Glore & Co. Inc. IL boosted its holdings in Silvercrest Asset Management Group by 26.6% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 18,658 shares of the asset manager’s stock valued at $296,000 after purchasing an additional 3,925 shares during the period. 47.59% of the stock is currently owned by institutional investors and hedge funds.

Silvercrest Asset Management Group Price Performance

Shares of SAMG traded down $0.07 during midday trading on Wednesday, reaching $14.41. The stock had a trading volume of 11,017 shares, compared to its average volume of 32,327. The firm’s 50 day moving average price is $15.10 and its 200-day moving average price is $15.30. Silvercrest Asset Management Group has a 52 week low of $13.23 and a 52 week high of $19.03. The company has a market capitalization of $176.38 million, a P/E ratio of 20.22 and a beta of 0.70.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Zacks Research upgraded Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Silvercrest Asset Management Group presently has a consensus rating of “Hold”.

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.