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

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Silvercrest Asset Management Group (NASDAQ: SAMGGet a rating) has been upgraded by StockNews.com from a “buy” rating to a “strong buy” rating in a note released Wednesday to investors.

Separately, Zacks Investment Research downgraded Silvercrest Asset Management Group from a “buy” rating to a “hold” rating in a Thursday, May 12 research note.

Shares of SAMG opened at $19.99 on Wednesday. Silvercrest Asset Management Group has a 12-month low of $13.17 and a 12-month high of $22.68. The company has a market capitalization of $289.12 million, a PE ratio of 9.85 and a beta of 0.69. The stock’s fifty-day simple moving average is $20.56 and its 200-day simple moving average is $18.07.

Silvercrest Asset Management Group (NASDAQ: SAMGGet a rating) last released its quarterly results on Wednesday, March 2. The asset manager reported earnings per share (EPS) of $0.58 for the quarter, beating the consensus estimate of $0.37 by $0.21. Silvercrest Asset Management Group achieved a return on equity of 25.76% and a net margin of 14.72%. The company posted revenue of $33.80 million for the quarter, versus analyst estimates of $34.52 million. In the same quarter a year earlier, the company posted earnings per share of $0.31. As a group, stock analysts predict Silvercrest Asset Management Group will post EPS of 1.72 for the current fiscal year.

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Boston Partners increased its stake in Silvercrest Asset Management Group by 27.5% in the fourth quarter. Boston Partners now owns 569,095 shares of the asset manager valued at $9,772,000 after buying an additional 122,754 shares in the last quarter. Long Path Partners Fund LP increased its stake in Silvercrest Asset Management Group by 29.9% in the first quarter. Long Path Partners Fund LP now owns 370,500 shares of the asset manager valued at $7,577,000 after buying an additional 85,274 shares in the last quarter. Invenomic Capital Management LP increased its stake in shares of Silvercrest Asset Management Group by 21.0% in the fourth quarter. Invenomic Capital Management LP now owns 216,393 shares of the asset manager worth $3,716,000 after acquiring 37,543 additional shares last quarter. Victory Capital Management Inc. increased its equity stake in Silvercrest Asset Management Group by 13.8% in the first quarter. Victory Capital Management Inc. now owns 162,503 shares of the asset manager worth $3,377,000 after acquiring an additional 19,670 shares last quarter. Finally, Dimensional Fund Advisors LP increased its holdings of Silvercrest Asset Management Group shares by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 161,584 shares of the asset manager worth $3,304,000 after acquiring 5,167 additional shares in the last quarter. Institutional investors and hedge funds own 45.97% of the company’s shares.

About Silvercrest Asset Management Group (Get a rating)

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

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