Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Sees Significant Growth in Short Interest

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 39,100 shares, a growth of 29.5% from the February 28th total of 30,200 shares. Approximately 0.4% of the company's stock are short sold. Based on an average daily volume of 24,100 shares, the days-to-cover ratio is currently 1.6 days.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Hedge funds have recently modified their holdings of the company. Cary Street Partners Financial LLC purchased a new position in shares of Silvercrest Asset Management Group in the 4th quarter valued at approximately $1,197,000. JPMorgan Chase & Co. boosted its position in Silvercrest Asset Management Group by 72.7% in the fourth quarter. JPMorgan Chase & Co. now owns 35,583 shares of the asset manager's stock worth $654,000 after purchasing an additional 14,978 shares during the last quarter. Martingale Asset Management L P boosted its stake in shares of Silvercrest Asset Management Group by 111.2% during the 3rd quarter. Martingale Asset Management L P now owns 22,447 shares of the asset manager's stock worth $387,000 after acquiring an additional 11,818 shares during the last quarter. Geode Capital Management LLC raised its holdings in Silvercrest Asset Management Group by 4.9% in the 3rd quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager's stock worth $3,852,000 after purchasing an additional 10,477 shares during the period. Finally, Barclays PLC lifted its position in shares of Silvercrest Asset Management Group by 48.8% during the 3rd quarter. Barclays PLC now owns 30,814 shares of the asset manager's stock valued at $531,000 after buying an additional 10,110 shares in the last quarter. Hedge funds and other institutional investors own 47.59% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Silvercrest Asset Management Group from a "buy" rating to a "strong-buy" rating in a report on Friday, March 28th.

Silvercrest Asset Management Group Price Performance

Shares of SAMG traded down $0.04 during mid-day trading on Wednesday, hitting $16.50. The stock had a trading volume of 251,941 shares, compared to its average volume of 28,480. The firm has a market cap of $224.96 million, a P/E ratio of 20.63 and a beta of 0.80. Silvercrest Asset Management Group has a 52 week low of $13.93 and a 52 week high of $19.20. The business has a fifty day moving average price of $17.69 and a 200-day moving average price of $17.69.

Silvercrest Asset Management Group (NASDAQ:SAMG - Get Free Report) last announced its quarterly earnings results on Thursday, March 6th. The asset manager reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.13). Silvercrest Asset Management Group had a net margin of 6.24% and a return on equity of 11.40%. The company had revenue of $31.96 million for the quarter, compared to the consensus estimate of $31.97 million.

Silvercrest Asset Management Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 14th were paid a $0.20 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 4.85%. Silvercrest Asset Management Group's dividend payout ratio (DPR) is currently 79.21%.

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.