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

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

Silvercrest Asset Management Group Trading Up 1.9 %

Shares of Silvercrest Asset Management Group stock opened at $18.29 on Wednesday. Silvercrest Asset Management Group has a twelve month low of $13.93 and a twelve month high of $18.77. The firm has a market capitalization of $253.50 million, a PE ratio of 22.44 and a beta of 0.83. The firm’s 50-day moving average price is $17.23 and its 200 day moving average price is $16.21.

Institutional Trading of Silvercrest Asset Management Group

A number of hedge funds and other institutional investors have recently made changes to their positions in SAMG. First Personal Financial Services grew its position in Silvercrest Asset Management Group by 50.0% in 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 in the last quarter. BNP Paribas Financial Markets boosted 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 valued at $134,000 after buying an additional 692 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Silvercrest Asset Management Group by 30.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock worth $253,000 after purchasing an additional 3,446 shares during the last quarter. Rhumbline Advisers increased its position in Silvercrest Asset Management Group by 15.7% during the second quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock worth $237,000 after buying an additional 2,072 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Silvercrest Asset Management Group in the 2nd quarter valued at $270,000. Institutional investors and hedge funds own 47.59% of the company’s stock.

Silvercrest Asset Management Group Company Profile

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.