StockNews.com Upgrades Silvercrest Asset Management Group (NASDAQ:SAMG) to Strong-Buy

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

Silvercrest Asset Management Group Stock Performance

NASDAQ:SAMG opened at $16.47 on Friday. Silvercrest Asset Management Group has a 52-week low of $13.93 and a 52-week high of $19.20. The company has a market cap of $224.55 million, a P/E ratio of 20.59 and a beta of 0.84. The stock’s 50-day simple moving average is $17.78 and its 200 day simple moving average is $17.69.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced its quarterly earnings results on Thursday, March 6th. The asset manager reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.13). Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%. The business had revenue of $31.96 million for the quarter, compared to analyst estimates of $31.97 million.

Institutional Trading of Silvercrest Asset Management Group

Hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its holdings in Silvercrest Asset Management Group by 28.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after buying an additional 1,236 shares in the last quarter. R Squared Ltd acquired a new position in shares of Silvercrest Asset Management Group in the fourth quarter valued at about $122,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Silvercrest Asset Management Group by 30.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock worth $253,000 after acquiring an additional 3,446 shares during the period. O Shaughnessy Asset Management LLC raised its stake in Silvercrest Asset Management Group by 72.0% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,856 shares of the asset manager’s stock worth $365,000 after purchasing an additional 8,313 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Silvercrest Asset Management Group by 5.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager’s stock valued at $368,000 after purchasing an additional 1,000 shares during the period. 47.59% of the stock is owned by institutional investors and hedge funds.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group Inc, a wealth management firm, provides financial advisory and related family office services in the United States. The company serves ultra-high net worth individuals and families, as well as their trusts; endowments; foundations; and other institutional investors.