Acadian Asset Management (NYSE:AAMI) Reaches New 52-Week High After Earnings Beat

Shares of Acadian Asset Management Inc. (NYSE:AAMI) hit a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as $86.43 and last traded at $82.38, with a volume of 93749 shares. The stock had previously closed at $80.83.

The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.30. The business had revenue of $183.20 million during the quarter. Acadian Asset Management had a net margin of 13.78% and a return on equity of 185.73%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Morgan Stanley set a $81.00 price target on Acadian Asset Management in a research note on Wednesday. Royal Bank Of Canada increased their target price on Acadian Asset Management from $66.00 to $72.00 and gave the stock a “sector perform” rating in a report on Thursday, July 2nd. Weiss Ratings lowered Acadian Asset Management from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, May 11th. Wall Street Zen upgraded Acadian Asset Management from a “buy” rating to a “strong-buy” rating in a research report on Sunday, May 10th. Finally, Zacks Research upgraded Acadian Asset Management from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.00.

Insiders Place Their Bets

In other Acadian Asset Management news, CAO Richard Jonathan Hart sold 100,000 shares of Acadian Asset Management stock in a transaction on Monday, May 4th. The shares were sold at an average price of $66.97, for a total transaction of $6,697,000.00. Following the completion of the sale, the chief accounting officer owned 73,863 shares of the company’s stock, valued at approximately $4,946,605.11. The trade was a 57.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.60% of the company’s stock.

Institutional Trading of Acadian Asset Management

Several large investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL raised its stake in Acadian Asset Management by 42.6% in the third quarter. Tudor Investment Corp ET AL now owns 225,579 shares of the company’s stock valued at $10,864,000 after purchasing an additional 67,385 shares in the last quarter. Strs Ohio bought a new position in Acadian Asset Management during the 4th quarter valued at about $738,000. Boston Trust Walden Corp purchased a new stake in Acadian Asset Management in the first quarter worth about $15,325,000. Impax Asset Management Group plc boosted its stake in Acadian Asset Management by 10.4% in the fourth quarter. Impax Asset Management Group plc now owns 845,451 shares of the company’s stock valued at $39,736,000 after acquiring an additional 79,967 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Acadian Asset Management by 27.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 368,164 shares of the company’s stock valued at $17,444,000 after acquiring an additional 79,126 shares in the last quarter. 98.69% of the stock is currently owned by institutional investors and hedge funds.

Acadian Asset Management Stock Up 1.5%

The stock has a market cap of $2.92 billion, a PE ratio of 35.29 and a beta of 1.32. The stock has a 50-day moving average of $76.86 and a 200 day moving average of $64.38.

About Acadian Asset Management

Acadian Asset Management is a global investment management firm specializing in quantitative research and systematic strategies. Since its founding in 1986, the firm has developed data-driven models designed to identify and capture investment opportunities across equity and fixed income markets. By integrating advanced analytics, proprietary risk management tools and a disciplined investment process, Acadian seeks to deliver consistent performance for institutional clients.

The firm’s core offerings include institutional equity portfolios, fixed income strategies and multi-asset solutions.