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

Silvercrest Asset Management Group (NASDAQ:SAMG) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Sell”.

Silvercrest Asset Management Group Stock Performance

Shares of NASDAQ:SAMG opened at $10.11 on Monday. The stock has a 50-day simple moving average of $11.81 and a 200-day simple moving average of $13.69. The stock has a market capitalization of $119.80 million, a P/E ratio of 33.70 and a beta of 0.64. Silvercrest Asset Management Group has a 1 year low of $10.01 and a 1 year high of $16.99.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its quarterly earnings results on Monday, May 11th. The asset manager reported $0.12 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.09). Silvercrest Asset Management Group had a net margin of 2.12% and a return on equity of 10.51%. The business had revenue of $31.41 million during the quarter, compared to analysts’ expectations of $31.85 million. Analysts predict that Silvercrest Asset Management Group will post 0.53 earnings per share for the current year.

Institutional Trading of Silvercrest Asset Management Group

A number of hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its stake in shares of Silvercrest Asset Management Group by 64.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 798 shares during the period. Wells Fargo & Company MN grew its holdings in Silvercrest Asset Management Group by 28.2% during the 4th quarter. Wells Fargo & Company MN now owns 7,729 shares of the asset manager’s stock valued at $117,000 after purchasing an additional 1,702 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Silvercrest Asset Management Group by 1,200.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 9,373 shares of the asset manager’s stock worth $149,000 after buying an additional 8,652 shares during the period. Engineers Gate Manager LP purchased a new stake in Silvercrest Asset Management Group during the 2nd quarter worth $167,000. Finally, Cetera Investment Advisers acquired a new position in Silvercrest Asset Management Group in the 1st quarter worth $192,000. Hedge funds and other institutional investors own 47.59% of the company’s stock.

Silvercrest Asset Management Group Company Profile

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.