Silvercrest Asset Management Group (NASDAQ:SAMG) Upgraded at Zacks Research

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, Weiss Ratings downgraded shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Silvercrest Asset Management Group has a consensus rating of “Moderate Buy”.

Silvercrest Asset Management Group Price Performance

SAMG opened at $13.31 on Wednesday. The firm has a market cap of $156.92 million, a PE ratio of 25.11 and a beta of 0.71. The stock has a 50-day moving average price of $14.81 and a 200-day moving average price of $14.87. Silvercrest Asset Management Group has a 1 year low of $13.00 and a 1 year high of $16.99.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its quarterly earnings data on Monday, March 16th. The asset manager reported $0.18 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.05). The firm had revenue of $31.96 million for the quarter, compared to analysts’ expectations of $32.06 million. Silvercrest Asset Management Group had a net margin of 3.90% and a return on equity of 11.99%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its stake in Silvercrest Asset Management Group by 4.0% during the 4th quarter. Hsbc Holdings PLC now owns 68,026 shares of the asset manager’s stock valued at $1,046,000 after buying an additional 2,629 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Silvercrest Asset Management Group by 64.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,030 shares of the asset manager’s stock worth $31,000 after buying an additional 798 shares during the last quarter. Rothschild Wealth LLC bought a new stake in shares of Silvercrest Asset Management Group in the fourth quarter worth $1,950,000. Marshall Wace LLP increased its position in Silvercrest Asset Management Group by 18.5% during the fourth quarter. Marshall Wace LLP now owns 40,852 shares of the asset manager’s stock valued at $621,000 after acquiring an additional 6,366 shares during the last quarter. Finally, Boston Partners lifted its holdings in Silvercrest Asset Management Group by 9.3% in the fourth quarter. Boston Partners now owns 232,310 shares of the asset manager’s stock valued at $3,529,000 after acquiring an additional 19,753 shares during the period. Hedge funds and other institutional investors own 47.59% of the company’s stock.

About Silvercrest Asset Management Group

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.