Short Interest in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Expands By 26.8%

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the target of a significant increase in short interest in December. As of December 15th, there was short interest totalling 36,000 shares, an increase of 26.8% from the November 30th total of 28,400 shares. Based on an average daily volume of 22,400 shares, the days-to-cover ratio is presently 1.6 days. Approximately 0.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On Silvercrest Asset Management Group

A number of institutional investors have recently added to or reduced their stakes in SAMG. Rhumbline Advisers boosted its stake in shares of Silvercrest Asset Management Group by 15.7% during the second quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock valued at $237,000 after purchasing an additional 2,072 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Silvercrest Asset Management Group by 30.8% in 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. Hsbc Holdings PLC acquired a new stake in Silvercrest Asset Management Group during the 2nd quarter worth approximately $270,000. Jane Street Group LLC grew its holdings in 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 worth $345,000 after acquiring an additional 7,155 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Silvercrest Asset Management Group by 80.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after acquiring an additional 9,209 shares during the period. 47.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th.

Silvercrest Asset Management Group Price Performance

Shares of SAMG stock traded down $0.05 on Tuesday, hitting $18.39. 18,663 shares of the company’s stock were exchanged, compared to its average volume of 26,159. The company has a 50 day moving average of $17.96 and a 200 day moving average of $16.78. The stock has a market cap of $254.98 million, a P/E ratio of 22.99 and a beta of 0.83. Silvercrest Asset Management Group has a 12 month low of $13.93 and a 12 month high of $19.20.

Silvercrest Asset Management Group Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were paid a $0.20 dividend. The ex-dividend date was Friday, December 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.35%. Silvercrest Asset Management Group’s payout ratio is currently 100.00%.

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.