Zacks Research Upgrades Silvercrest Asset Management Group (NASDAQ:SAMG) to Hold

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Silvercrest Asset Management Group Trading Up 2.5%

SAMG stock opened at $14.84 on Tuesday. The firm has a market cap of $181.61 million, a PE ratio of 20.90 and a beta of 0.70. Silvercrest Asset Management Group has a 1-year low of $13.23 and a 1-year high of $19.20. The business’s 50-day moving average price is $14.37 and its two-hundred day moving average price is $15.34.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings data on Friday, October 31st. The asset manager reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.10). Silvercrest Asset Management Group had a return on equity of 11.56% and a net margin of 5.28%.The firm had revenue of $31.30 million for the quarter, compared to analyst estimates of $32.12 million.

Insider Activity

In related news, Director John Allen Gray acquired 5,500 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was bought at an average cost of $13.83 per share, with a total value of $76,065.00. Following the acquisition, the director owned 41,610 shares of the company’s stock, valued at approximately $575,466.30. The trade was a 15.23% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders acquired a total of 21,785 shares of company stock valued at $298,762 in the last quarter. Company insiders own 20.40% of the company’s stock.

Institutional Trading of Silvercrest Asset Management Group

Several large investors have recently added to or reduced their stakes in the stock. Gabelli Funds LLC boosted its position in shares of Silvercrest Asset Management Group by 629.9% during the second quarter. Gabelli Funds LLC now owns 184,887 shares of the asset manager’s stock valued at $2,932,000 after purchasing an additional 159,555 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Silvercrest Asset Management Group during the second quarter valued at approximately $1,014,000. Teton Advisors LLC purchased a new position in shares of Silvercrest Asset Management Group during the third quarter valued at approximately $866,000. Hsbc Holdings PLC grew its stake in shares of Silvercrest Asset Management Group by 191.9% in the 2nd quarter. Hsbc Holdings PLC now owns 65,249 shares of the asset manager’s stock worth $1,045,000 after buying an additional 42,898 shares during the last quarter. Finally, Nuveen LLC bought a new position in Silvercrest Asset Management Group during the 1st quarter valued at approximately $331,000. Institutional investors 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.