AlphaQuest LLC Has $500,000 Stock Position in Artisan Partners Asset Management Inc. $APAM

AlphaQuest LLC decreased its position in Artisan Partners Asset Management Inc. (NYSE:APAM) by 60.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 11,272 shares of the asset manager’s stock after selling 17,103 shares during the period. AlphaQuest LLC’s holdings in Artisan Partners Asset Management were worth $500,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in Artisan Partners Asset Management in the 1st quarter valued at approximately $33,000. Farther Finance Advisors LLC grew its stake in shares of Artisan Partners Asset Management by 24.1% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,282 shares of the asset manager’s stock valued at $57,000 after purchasing an additional 249 shares during the period. Legend Financial Advisors Inc. acquired a new position in shares of Artisan Partners Asset Management in the 2nd quarter worth approximately $75,000. CWM LLC raised its holdings in shares of Artisan Partners Asset Management by 77.0% in the 1st quarter. CWM LLC now owns 2,126 shares of the asset manager’s stock worth $83,000 after buying an additional 925 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Artisan Partners Asset Management in the 1st quarter worth approximately $137,000. Institutional investors and hedge funds own 86.45% of the company’s stock.

Analyst Upgrades and Downgrades

APAM has been the subject of a number of recent research reports. Zacks Research cut Artisan Partners Asset Management from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Artisan Partners Asset Management in a report on Tuesday, October 14th. Evercore ISI dropped their target price on Artisan Partners Asset Management from $45.00 to $43.00 and set an “in-line” rating for the company in a report on Thursday, October 9th. Royal Bank Of Canada increased their target price on Artisan Partners Asset Management from $50.00 to $51.00 and gave the stock an “outperform” rating in a report on Thursday, July 31st. Finally, TD Cowen dropped their target price on Artisan Partners Asset Management from $47.00 to $43.00 and set a “hold” rating for the company in a report on Monday, September 15th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

Artisan Partners Asset Management Stock Down 1.1%

NYSE APAM opened at $44.21 on Wednesday. The firm has a market cap of $3.57 billion, a PE ratio of 11.76 and a beta of 1.72. Artisan Partners Asset Management Inc. has a one year low of $32.75 and a one year high of $49.54. The stock’s 50 day simple moving average is $44.89 and its 200 day simple moving average is $43.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.97 and a quick ratio of 0.97.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings results on Tuesday, October 28th. The asset manager reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.05. The business had revenue of $301.30 million for the quarter, compared to analyst estimates of $300.90 million. Artisan Partners Asset Management had a return on equity of 71.72% and a net margin of 23.87%.Artisan Partners Asset Management’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.92 EPS. As a group, sell-side analysts forecast that Artisan Partners Asset Management Inc. will post 3.6 earnings per share for the current fiscal year.

Artisan Partners Asset Management Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.