Silvercrest Asset Management Group (NASDAQ:SAMG) Raised to “Strong-Buy” at StockNews.com

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Wednesday.

Silvercrest Asset Management Group Stock Down 1.6 %

Shares of NASDAQ SAMG opened at $16.83 on Wednesday. Silvercrest Asset Management Group has a fifty-two week low of $13.93 and a fifty-two week high of $19.20. The business has a 50 day moving average price of $18.11 and a two-hundred day moving average price of $17.63. The firm has a market cap of $233.35 million, a PE ratio of 21.04 and a beta of 0.84.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued its quarterly earnings data on Thursday, March 6th. The asset manager reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.40%. The business had revenue of $31.96 million for the quarter, compared to analyst estimates of $31.97 million.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SAMG. Cary Street Partners Financial LLC acquired a new position in shares of Silvercrest Asset Management Group in the 4th quarter worth approximately $1,197,000. Royce & Associates LP grew its position in shares of Silvercrest Asset Management Group by 6.6% in the 3rd quarter. Royce & Associates LP now owns 586,300 shares of the asset manager’s stock worth $10,108,000 after acquiring an additional 36,063 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Silvercrest Asset Management Group by 72.7% in the 4th quarter. JPMorgan Chase & Co. now owns 35,583 shares of the asset manager’s stock worth $654,000 after acquiring an additional 14,978 shares in the last quarter. Martingale Asset Management L P grew its position in shares of Silvercrest Asset Management Group by 111.2% in the 3rd quarter. Martingale Asset Management L P now owns 22,447 shares of the asset manager’s stock worth $387,000 after acquiring an additional 11,818 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Silvercrest Asset Management Group by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock worth $3,852,000 after acquiring an additional 10,477 shares in the last quarter. Institutional investors and hedge funds own 47.59% of the company’s stock.

About Silvercrest Asset Management Group

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.