Acadian Asset Management (NYSE:AAMI) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Acadian Asset Management (NYSE:AAMI) from a hold rating to a strong-buy rating in a research note published on Tuesday morning,Zacks.com reports.

Several other research firms have also weighed in on AAMI. Royal Bank Of Canada increased their price target on shares of Acadian Asset Management from $66.00 to $72.00 and gave the company a “sector perform” rating in a research report on Thursday, July 2nd. Evercore set a $84.00 price objective on shares of Acadian Asset Management in a research report on Friday, July 10th. Weiss Ratings cut shares of Acadian Asset Management from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, May 11th. Wall Street Zen raised shares of Acadian Asset Management from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Morgan Stanley set a $81.00 target price on shares of Acadian Asset Management in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.00.

Acadian Asset Management Price Performance

Shares of NYSE:AAMI opened at $80.89 on Tuesday. Acadian Asset Management has a 1 year low of $39.20 and a 1 year high of $85.73. The company has a market capitalization of $2.88 billion, a PE ratio of 34.42 and a beta of 1.32. The business has a fifty day moving average price of $76.86 and a two-hundred day moving average price of $64.38.

Acadian Asset Management (NYSE:AAMI) last released its earnings results on Thursday, April 30th. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.11. The company had revenue of $165.00 million for the quarter. Acadian Asset Management had a return on equity of 185.73% and a net margin of 13.78%. Sell-side analysts anticipate that Acadian Asset Management will post 5.11 earnings per share for the current year.

Insider Buying and Selling at Acadian Asset Management

In other news, CAO Richard Jonathan Hart sold 100,000 shares of the stock in a transaction on Monday, May 4th. The stock was sold at an average price of $66.97, for a total transaction of $6,697,000.00. Following the completion of the transaction, the chief accounting officer owned 73,863 shares in the company, valued at approximately $4,946,605.11. This represents a 57.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 22.60% of the company’s stock.

Institutional Investors Weigh In On Acadian Asset Management

Several institutional investors have recently added to or reduced their stakes in the business. Tudor Investment Corp ET AL raised its position in shares of Acadian Asset Management by 42.6% in the third quarter. Tudor Investment Corp ET AL now owns 225,579 shares of the company’s stock valued at $10,864,000 after purchasing an additional 67,385 shares during the period. Strs Ohio bought a new position in Acadian Asset Management in the 4th quarter worth approximately $738,000. Impax Asset Management Group plc boosted its holdings in Acadian Asset Management by 10.4% in the 4th quarter. Impax Asset Management Group plc now owns 845,451 shares of the company’s stock worth $39,736,000 after buying an additional 79,967 shares during the period. Boston Trust Walden Corp purchased a new position in Acadian Asset Management in the 1st quarter valued at approximately $15,325,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Acadian Asset Management by 27.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 368,164 shares of the company’s stock valued at $17,444,000 after buying an additional 79,126 shares in the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.

About Acadian Asset Management

Acadian Asset Management is a global investment management firm specializing in quantitative research and systematic strategies. Since its founding in 1986, the firm has developed data-driven models designed to identify and capture investment opportunities across equity and fixed income markets. By integrating advanced analytics, proprietary risk management tools and a disciplined investment process, Acadian seeks to deliver consistent performance for institutional clients.

The firm’s core offerings include institutional equity portfolios, fixed income strategies and multi-asset solutions.