Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Rating Lowered by Zacks Research

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

Several other brokerages also recently weighed in on SAMG. Weiss Ratings downgraded Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. Wall Street Zen cut Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Silvercrest Asset Management Group has a consensus rating of “Sell”.

Silvercrest Asset Management Group Stock Performance

NASDAQ:SAMG opened at $10.11 on Monday. The business’s 50-day simple moving average is $11.81 and its 200 day simple moving average is $13.69. Silvercrest Asset Management Group has a one year low of $10.01 and a one year high of $16.99. The stock has a market cap of $119.80 million, a price-to-earnings ratio of 33.70 and a beta of 0.64.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its earnings results on Monday, May 11th. The asset manager reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.09). Silvercrest Asset Management Group had a return on equity of 10.51% and a net margin of 2.12%.The company had revenue of $31.41 million during the quarter, compared to the consensus estimate of $31.85 million. On average, equities research analysts predict that Silvercrest Asset Management Group will post 0.53 EPS for the current year.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. bought a new stake in shares of Silvercrest Asset Management Group in the 1st quarter worth $3,293,000. Boston Partners increased its position in shares of Silvercrest Asset Management Group by 9.3% in the fourth quarter. Boston Partners now owns 232,310 shares of the asset manager’s stock worth $3,529,000 after acquiring an additional 19,753 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of Silvercrest Asset Management Group by 9.9% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 189,085 shares of the asset manager’s stock valued at $2,872,000 after acquiring an additional 17,051 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Silvercrest Asset Management Group by 3.0% during the first quarter. Renaissance Technologies LLC now owns 161,737 shares of the asset manager’s stock valued at $2,174,000 after acquiring an additional 4,700 shares during the period. Finally, Rothschild Wealth LLC purchased a new stake in shares of Silvercrest Asset Management Group in the 4th quarter valued at approximately $1,950,000. 47.59% of the stock is owned by institutional investors.

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.