Acadian Asset Management (NYSE:AAMI) Raised to Strong-Buy at Wall Street Zen

Acadian Asset Management (NYSE:AAMI) was upgraded by equities researchers at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Sunday, Wall Street Zen reports.

A number of other research firms have also commented on AAMI. Morgan Stanley lifted their price objective on Acadian Asset Management from $81.00 to $95.00 and gave the stock an “equal weight” rating in a research note on Friday, September 25th. Evercore set a $84.00 price objective on shares of Acadian Asset Management in a research note on Friday, July 10th. Weiss Ratings upgraded shares of Acadian Asset Management from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Zacks Research lowered shares of Acadian Asset Management from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Finally, Royal Bank Of Canada upped their price target on shares of Acadian Asset Management from $72.00 to $80.00 and gave the company a “sector perform” rating in a research report on Friday, July 31st. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $86.33.

Acadian Asset Management Trading Up 2.4%

AAMI stock opened at $96.47 on Friday. The stock has a market capitalization of $3.42 billion, a P/E ratio of 34.09 and a beta of 1.31. Acadian Asset Management has a 12 month low of $41.47 and a 12 month high of $98.52. The firm has a 50-day moving average price of $91.57 and a 200-day moving average price of $77.52.

Acadian Asset Management (NYSE:AAMI) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.30. The company had revenue of $183.20 million for the quarter. Acadian Asset Management had a net margin of 15.17% and a return on equity of 189.32%. As a group, equities analysts predict that Acadian Asset Management will post 5.51 EPS for the current fiscal year.

Institutional Trading of Acadian Asset Management

Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Acadian Asset Management by 4.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,735 shares of the company’s stock valued at $768,000 after purchasing an additional 469 shares in the last quarter. HBK Investments L P purchased a new stake in Acadian Asset Management in the 2nd quarter valued at $715,000. Integrated Wealth Concepts LLC purchased a new stake in Acadian Asset Management in the 2nd quarter valued at $40,000. Squarepoint Ops LLC bought a new position in Acadian Asset Management during the 2nd quarter valued at $2,091,000. Finally, Allworth Financial LP lifted its stake in Acadian Asset Management by 57.9% during the 2nd quarter. Allworth Financial LP now owns 682 shares of the company’s stock valued at $49,000 after acquiring an additional 250 shares in the last quarter. 98.69% of the stock is owned by hedge funds and other institutional investors.

About Acadian Asset Management

Acadian Asset Management is a global investment management firm that uses quantitative and systematic research to design and manage portfolios for institutional and intermediary clients. The company applies data-driven processes, technology and fundamental analysis to identify investment opportunities and manage risk across global markets.

Its offerings include actively managed strategies in global and emerging-market equities, fixed income, multi-asset portfolios and alternative investments.