Silvercrest Asset Management Group (NASDAQ:SAMG) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

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

Silvercrest Asset Management Group Trading Down 0.5%

NASDAQ:SAMG traded down $0.07 during mid-day trading on Monday, hitting $13.26. 9,338 shares of the company’s stock traded hands, compared to its average volume of 31,740. The firm has a 50 day moving average of $13.85 and a two-hundred day moving average of $14.44. Silvercrest Asset Management Group has a 12 month low of $12.79 and a 12 month high of $16.99. The firm has a market capitalization of $156.39 million, a price-to-earnings ratio of 25.02 and a beta of 0.69.

Institutional Trading of Silvercrest Asset Management Group

Several hedge funds have recently added to or reduced their stakes in the business. Boston Partners boosted its stake in Silvercrest Asset Management Group by 9.3% during the 4th quarter. Boston Partners now owns 232,310 shares of the asset manager’s stock valued at $3,529,000 after purchasing an additional 19,753 shares during the period. Goldman Sachs Group Inc. raised its holdings in Silvercrest Asset Management Group by 24.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 99,056 shares of the asset manager’s stock valued at $1,505,000 after acquiring an additional 19,186 shares in the last quarter. Marshall Wace LLP acquired a new position in Silvercrest Asset Management Group in the 2nd quarter valued at approximately $1,014,000. Bank of America Corp DE raised its holdings in Silvercrest Asset Management Group by 22.4% in the 2nd quarter. Bank of America Corp DE now owns 31,539 shares of the asset manager’s stock valued at $500,000 after acquiring an additional 5,769 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Silvercrest Asset Management Group by 29.1% in the 3rd quarter. Millennium Management LLC now owns 29,928 shares of the asset manager’s stock valued at $471,000 after acquiring an additional 6,753 shares in the last quarter. Institutional investors own 47.59% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings downgraded 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 research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Silvercrest Asset Management Group has a consensus rating of “Moderate Buy”.

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.