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

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) was upgraded by investment analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report released on Monday.

Silvercrest Asset Management Group Trading Up 1.0 %

SAMG stock traded up $0.16 during mid-day trading on Monday, hitting $16.57. The stock had a trading volume of 11,303 shares, compared to its average volume of 26,212. The firm has a fifty day simple moving average of $16.72 and a 200 day simple moving average of $15.94. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week high of $18.09. The firm has a market capitalization of $231.81 million, a P/E ratio of 20.71 and a beta of 0.83.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The asset manager reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.10). The company had revenue of $30.99 million during the quarter, compared to the consensus estimate of $30.68 million. Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.41%. During the same quarter in the prior year, the firm earned $0.34 EPS.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Personal Financial Services grew its position in Silvercrest Asset Management Group by 50.0% during the second quarter. First Personal Financial Services now owns 6,000 shares of the asset manager's stock valued at $94,000 after acquiring an additional 2,000 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Silvercrest Asset Management Group by 8.9% in the first quarter. BNP Paribas Financial Markets now owns 8,450 shares of the asset manager's stock worth $134,000 after purchasing an additional 692 shares in the last quarter. Heron Bay Capital Management bought a new position in Silvercrest Asset Management Group in the first quarter worth $162,000. Rhumbline Advisers increased its holdings in shares of Silvercrest Asset Management Group by 15.7% during the second quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager's stock valued at $237,000 after acquiring an additional 2,072 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Silvercrest Asset Management Group during the second quarter valued at $270,000. 47.59% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.