Westwood Holdings Group (NYSE:WHG) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Westwood Holdings Group, Inc. (NYSE:WHG)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $12.68 and traded as high as $14.51. Westwood Holdings Group shares last traded at $14.33, with a volume of 4,820 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Westwood Holdings Group in a report on Saturday. They issued a “buy” rating on the stock.

Westwood Holdings Group Stock Performance

The stock’s 50 day moving average price is $12.99 and its 200 day moving average price is $12.68. The company has a market capitalization of $133.13 million, a P/E ratio of 10.54 and a beta of 1.15.

Westwood Holdings Group (NYSE:WHG) last issued its quarterly earnings results on Wednesday, July 31st. The asset manager reported ($0.18) earnings per share for the quarter. Westwood Holdings Group had a return on equity of 7.86% and a net margin of 7.63%. The business had revenue of $22.69 million for the quarter.

Westwood Holdings Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date was Friday, August 30th. Westwood Holdings Group’s payout ratio is 44.12%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. SpiderRock Advisors LLC bought a new stake in Westwood Holdings Group in the first quarter valued at $144,000. Empowered Funds LLC raised its stake in Westwood Holdings Group by 7.6% during the 1st quarter. Empowered Funds LLC now owns 22,281 shares of the asset manager’s stock worth $275,000 after buying an additional 1,575 shares during the period. Prosperity Consulting Group LLC acquired a new position in Westwood Holdings Group during the 1st quarter worth approximately $537,000. Garner Asset Management Corp boosted its holdings in Westwood Holdings Group by 352.5% in the fourth quarter. Garner Asset Management Corp now owns 60,395 shares of the asset manager’s stock worth $714,000 after acquiring an additional 47,047 shares in the last quarter. Finally, Gabelli Funds LLC grew its stake in Westwood Holdings Group by 2.1% in the fourth quarter. Gabelli Funds LLC now owns 99,546 shares of the asset manager’s stock valued at $1,251,000 after acquiring an additional 2,050 shares during the period. Institutional investors and hedge funds own 56.64% of the company’s stock.

About Westwood Holdings Group

Westwood Holdings Group, Inc, through its subsidiaries, manages investment assets and provides services for its clients. The company operates in two segments, Advisory and Trust. The Advisory segment provides investment advisory services to corporate retirement plans, public retirement plans, endowments, foundations, individuals, and the Westwood Funds; and investment sub-advisory services to mutual funds, pooled investment vehicles, and its Trust segment.