Acadian Asset Management (NYSE:AAMI) Stock Gets Downgrade from Wall Street Zen

Acadian Asset Management (NYSE:AAMI) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the stock. Evercore set a $102.00 target price on shares of Acadian Asset Management in a research note on Friday, October 9th. Morgan Stanley upgraded shares of Acadian Asset Management from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $97.00 to $110.00 in a report on Thursday, November 5th. Zacks Research cut shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Royal Bank Of Canada increased their price objective on shares of Acadian Asset Management from $85.00 to $88.00 and gave the company a “sector perform” rating in a report on Friday, October 30th. Finally, Weiss Ratings upgraded Acadian Asset Management from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.00.

Acadian Asset Management Price Performance

AAMI stock opened at $95.87 on Friday. Acadian Asset Management has a 1-year low of $41.47 and a 1-year high of $98.52. The business has a 50 day simple moving average of $92.17 and a two-hundred day simple moving average of $74.80. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 28.11 and a beta of 1.29.

Acadian Asset Management (NYSE:AAMI) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.14. Acadian Asset Management had a net margin of 17.02% and a return on equity of 139.70%. The firm had revenue of $189.10 million for the quarter. Sell-side analysts anticipate that Acadian Asset Management will post 5.73 EPS for the current fiscal year.

Institutional Trading of Acadian Asset Management

Several hedge funds have recently modified their holdings of the company. Paulson & CO. Inc. bought a new position in shares of Acadian Asset Management during the 2nd quarter valued at approximately $417,912,000. BlackRock Inc. bought a new stake in Acadian Asset Management in the second quarter worth $320,877,000. Jennison Associates LLC increased its position in Acadian Asset Management by 5.9% in the first quarter. Jennison Associates LLC now owns 2,022,207 shares of the company’s stock worth $110,049,000 after purchasing an additional 112,985 shares during the last quarter. Azora Capital LP bought a new stake in Acadian Asset Management in the second quarter worth $35,474,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Acadian Asset Management by 13.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 419,239 shares of the company’s stock valued at $23,561,000 after purchasing an additional 51,075 shares in the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.

Acadian Asset Management Company Profile

Acadian Asset Management is a global investment manager specializing in systematic, data-driven investment strategies. Founded in 1986, the firm applies quantitative research and technology to analyze markets and build portfolios.

The firm offers investment strategies across global, international and emerging-markets equities, as well as multi-asset and alternative investments. Its offerings include long-only and long-short approaches and customized portfolio solutions for institutional investors and other clients.

Based in Boston, Acadian serves clients around the world, including through offices in several major financial centers.