Silvercrest Asset Management Group (NASDAQ:SAMG) Issues Earnings Results

Silvercrest Asset Management Group (NASDAQ:SAMG) posted its earnings results on Monday. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.10), FiscalAI reports. Silvercrest Asset Management Group had a net margin of 3.90% and a return on equity of 11.99%. The business had revenue of $31.41 million during the quarter, compared to analyst estimates of $31.85 million.

Silvercrest Asset Management Group Stock Performance

SAMG traded down $0.07 on Monday, hitting $13.26. 9,337 shares of the company were exchanged, compared to its average volume of 31,782. Silvercrest Asset Management Group has a 12 month low of $12.79 and a 12 month high of $16.99. The company has a market cap of $156.39 million, a PE ratio of 25.02 and a beta of 0.69. The stock’s fifty day moving average is $13.85 and its 200-day moving average is $14.44.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Weiss Ratings cut Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, March 17th. Zacks Research upgraded Silvercrest Asset Management Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Institutional Trading of Silvercrest Asset Management Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP bought a new stake in Silvercrest Asset Management Group during the second quarter worth about $1,014,000. Bank of America Corp DE lifted its position in shares of Silvercrest Asset Management Group by 22.4% in the second quarter. Bank of America Corp DE now owns 31,539 shares of the asset manager’s stock valued at $500,000 after buying an additional 5,769 shares during the last quarter. Millennium Management LLC lifted its position in shares of Silvercrest Asset Management Group by 29.1% in the third quarter. Millennium Management LLC now owns 29,928 shares of the asset manager’s stock valued at $471,000 after buying an additional 6,753 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Silvercrest Asset Management Group by 42.0% in the second quarter. Gamco Investors INC. ET AL now owns 28,409 shares of the asset manager’s stock valued at $451,000 after buying an additional 8,409 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Silvercrest Asset Management Group in the second quarter valued at approximately $316,000. 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.