Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Sees Large Drop in Short Interest

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 78,161 shares, a decrease of 25.8% from the December 15th total of 105,308 shares. Approximately 0.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 49,901 shares, the days-to-cover ratio is currently 1.6 days. Based on an average daily trading volume, of 49,901 shares, the days-to-cover ratio is currently 1.6 days. Approximately 0.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

A number of analysts recently commented on SAMG shares. Zacks Research raised Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Weiss Ratings restated a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Silvercrest Asset Management Group presently has a consensus rating of “Hold”.

Silvercrest Asset Management Group Stock Up 1.3%

SAMG stock opened at $15.54 on Friday. The stock has a market capitalization of $190.21 million, a price-to-earnings ratio of 21.89 and a beta of 0.68. Silvercrest Asset Management Group has a 52-week low of $13.23 and a 52-week high of $19.03. The stock’s fifty day simple moving average is $14.72 and its 200-day simple moving average is $15.42.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its earnings results 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 business had revenue of $31.30 million for the quarter, compared to analysts’ expectations of $32.12 million.

Silvercrest Asset Management Group Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 12th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.84 annualized dividend and a dividend yield of 5.4%. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is currently 118.31%.

Insiders Place Their Bets

In related news, Director John Allen Gray purchased 15,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was bought at an average price of $13.66 per share, with a total value of $204,900.00. Following the completion of the transaction, the director owned 36,110 shares of the company’s stock, valued at approximately $493,262.60. This represents a 71.06% increase in their position. The acquisition 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 worth $298,762 over the last ninety days. Company insiders own 20.40% of the company’s stock.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in Silvercrest Asset Management Group during the first quarter worth approximately $242,000. Ritholtz Wealth Management acquired a new stake in shares of Silvercrest Asset Management Group during the 2nd quarter worth $288,000. R Squared Ltd raised its position in shares of Silvercrest Asset Management Group by 72.8% in the 2nd quarter. R Squared Ltd now owns 26,107 shares of the asset manager’s stock worth $414,000 after buying an additional 10,996 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Silvercrest Asset Management Group by 20.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,173 shares of the asset manager’s stock worth $336,000 after buying an additional 3,532 shares during the period. Finally, Roberts Glore & Co. Inc. IL boosted its holdings in Silvercrest Asset Management Group by 26.6% in the second quarter. Roberts Glore & Co. Inc. IL now owns 18,658 shares of the asset manager’s stock valued at $296,000 after acquiring an additional 3,925 shares during the last quarter. Institutional investors and hedge funds 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.