Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Rating Upgraded by Zacks Research

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings cut Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Silvercrest Asset Management Group currently has a consensus rating of “Moderate Buy”.

Silvercrest Asset Management Group Stock Up 0.6%

SAMG stock opened at $13.31 on Wednesday. The company has a market cap of $156.92 million, a price-to-earnings ratio of 25.11 and a beta of 0.71. The business has a fifty day simple moving average of $14.81 and a 200-day simple moving average of $14.87. Silvercrest Asset Management Group has a 52 week low of $13.00 and a 52 week high of $16.99.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its quarterly earnings results on Monday, March 16th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.05). The firm had revenue of $31.96 million for the quarter, compared to analysts’ expectations of $32.06 million. Silvercrest Asset Management Group had a net margin of 3.90% and a return on equity of 11.99%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of large investors have recently added to or reduced their stakes in the company. Boston Partners increased its stake in Silvercrest Asset Management Group by 9.3% during the 4th quarter. Boston Partners now owns 232,310 shares of the asset manager’s stock worth $3,529,000 after buying an additional 19,753 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Silvercrest Asset Management Group by 9.9% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 189,085 shares of the asset manager’s stock valued at $2,872,000 after buying an additional 17,051 shares during the last quarter. Gabelli Funds LLC grew its stake 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 acquiring an additional 159,555 shares in the last quarter. Rothschild Wealth LLC acquired a new stake in shares of Silvercrest Asset Management Group during the fourth quarter valued at about $1,950,000. Finally, Goldman Sachs Group Inc. increased its position in shares of Silvercrest Asset Management Group by 24.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 99,056 shares of the asset manager’s stock worth $1,505,000 after acquiring an additional 19,186 shares during the last quarter. 47.59% of the stock is owned by institutional investors and hedge funds.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group Inc, headquartered in New York City, is an independent registered investment adviser that specializes in delivering customized wealth and asset management solutions for high-net-worth individuals, family offices and institutional clients. Founded in 2002 by senior professionals from leading financial institutions, Silvercrest has built its reputation on a disciplined, research-driven investment process and a commitment to personalized client service.

The firm’s core offerings include discretionary and non-discretionary portfolio management across equities, fixed income, hedge funds and alternative investments.