Silvercrest Asset Management Group (NASDAQ:SAMG) Cut to Buy at StockNews.com

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

Silvercrest Asset Management Group Stock Up 0.8 %

Shares of NASDAQ:SAMG opened at $16.74 on Thursday. Silvercrest Asset Management Group has a twelve month low of $13.93 and a twelve month high of $19.20. The stock’s 50 day moving average is $17.99 and its 200-day moving average is $17.66. The firm has a market capitalization of $228.23 million, a price-to-earnings ratio of 20.93 and a beta of 0.84.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SAMG. Wells Fargo & Company MN grew its stake in Silvercrest Asset Management Group by 28.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after purchasing an additional 1,236 shares during the period. R Squared Ltd purchased a new position in shares of Silvercrest Asset Management Group during the 4th quarter valued at $122,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Silvercrest Asset Management Group by 30.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock valued at $253,000 after buying an additional 3,446 shares during the last quarter. Jane Street Group LLC lifted its position in shares of Silvercrest Asset Management Group by 55.6% during the 3rd quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock valued at $345,000 after buying an additional 7,155 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Silvercrest Asset Management Group by 80.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after buying an additional 9,209 shares during the last quarter. Institutional investors 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.