Silvercrest Asset Management Group (NASDAQ:SAMG) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of Silvercrest Asset Management Group (NASDAQ:SAMG) from a hold rating to a sell rating in a research note published on Thursday, ValuEngine reports.

Separately, Zacks Investment Research downgraded Silvercrest Asset Management Group from a hold rating to a sell rating in a research note on Wednesday, March 18th.

Shares of Silvercrest Asset Management Group stock traded up $0.47 during trading hours on Thursday, reaching $9.50. 23,968 shares of the stock traded hands, compared to its average volume of 19,284. The company has a 50 day moving average price of $10.60 and a 200 day moving average price of $12.11. The firm has a market capitalization of $129.67 million, a price-to-earnings ratio of 9.69 and a beta of 0.70. Silvercrest Asset Management Group has a one year low of $6.21 and a one year high of $15.45.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings results on Thursday, March 5th. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.14). The firm had revenue of $27.84 million for the quarter. Silvercrest Asset Management Group had a net margin of 8.46% and a return on equity of 14.73%. On average, sell-side analysts expect that Silvercrest Asset Management Group will post 1.44 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, March 13th were given a dividend of $0.16 per share. This is a boost from Silvercrest Asset Management Group’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date was Thursday, March 12th. Silvercrest Asset Management Group’s payout ratio is presently 54.70%.

Hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new position in shares of Silvercrest Asset Management Group during the 4th quarter valued at about $44,000. Barclays PLC lifted its position in shares of Silvercrest Asset Management Group by 102.7% during the 4th quarter. Barclays PLC now owns 8,652 shares of the asset manager’s stock valued at $109,000 after buying an additional 4,383 shares in the last quarter. UBS Group AG lifted its position in shares of Silvercrest Asset Management Group by 44.5% during the 4th quarter. UBS Group AG now owns 10,777 shares of the asset manager’s stock valued at $136,000 after buying an additional 3,317 shares in the last quarter. Goldman Sachs Group Inc. purchased a new position in shares of Silvercrest Asset Management Group during the 4th quarter valued at about $155,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Silvercrest Asset Management Group by 5.2% during the 4th quarter. Panagora Asset Management Inc. now owns 52,217 shares of the asset manager’s stock valued at $656,000 after buying an additional 2,597 shares in the last quarter. 44.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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