ValuEngine Downgrades Silvercrest Asset Management Group (NASDAQ:SAMG) to Sell

Silvercrest Asset Management Group (NASDAQ:SAMG) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Thursday, ValuEngine reports.

Separately, Zacks Investment Research downgraded shares of Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 18th.

SAMG stock traded up $0.47 during mid-day trading on Thursday, reaching $9.50. The company’s stock had a trading volume of 23,968 shares, compared to its average volume of 19,284. The stock has a market cap of $129.67 million, a PE ratio of 9.69 and a beta of 0.70. Silvercrest Asset Management Group has a fifty-two week low of $6.21 and a fifty-two week high of $15.45. The company’s 50 day moving average is $10.60 and its two-hundred day moving average is $12.11.

Silvercrest Asset Management Group (NASDAQ:SAMG) last announced 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 return on equity of 14.73% and a net margin of 8.46%. On average, research analysts forecast that Silvercrest Asset Management Group will post 1.44 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of SAMG. Captrust Financial Advisors acquired a new stake in Silvercrest Asset Management Group in the 4th quarter valued at approximately $791,000. Pacific Ridge Capital Partners LLC increased its holdings in Silvercrest Asset Management Group by 19.1% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 385,273 shares of the asset manager’s stock valued at $4,847,000 after purchasing an additional 61,652 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Silvercrest Asset Management Group by 12.0% in the 4th quarter. Renaissance Technologies LLC now owns 296,924 shares of the asset manager’s stock valued at $3,735,000 after purchasing an additional 31,900 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Silvercrest Asset Management Group by 73.6% in the 4th quarter. Bank of New York Mellon Corp now owns 69,703 shares of the asset manager’s stock valued at $877,000 after purchasing an additional 29,548 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Silvercrest Asset Management Group by 4.7% in the 4th quarter. Russell Investments Group Ltd. now owns 429,869 shares of the asset manager’s stock valued at $5,407,000 after purchasing an additional 19,277 shares during the last quarter. Hedge funds and other institutional investors own 44.29% of the company’s stock.

Silvercrest Asset Management Group Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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