Short Interest in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Increases By 35.2%

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 92,200 shares, a growth of 35.2% from the April 30th total of 68,200 shares. Based on an average daily volume of 55,700 shares, the days-to-cover ratio is currently 1.7 days. Approximately 1.0% of the company’s shares are sold short.

Institutional Trading of Silvercrest Asset Management Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAMG. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Silvercrest Asset Management Group by 12.2% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager’s stock worth $302,000 after acquiring an additional 1,781 shares during the period. Cary Street Partners Financial LLC purchased a new position in shares of Silvercrest Asset Management Group during the fourth quarter worth approximately $1,197,000. Diamond Hill Capital Management Inc. increased its position in shares of Silvercrest Asset Management Group by 1.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 125,695 shares of the asset manager’s stock worth $2,312,000 after acquiring an additional 1,781 shares during the period. Wells Fargo & Company MN increased its position in shares of Silvercrest Asset Management Group by 28.3% during the fourth quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock worth $103,000 after acquiring an additional 1,236 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Silvercrest Asset Management Group by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 208,760 shares of the asset manager’s stock worth $3,839,000 after acquiring an additional 2,175 shares during the period. 47.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of Silvercrest Asset Management Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 12th.

Silvercrest Asset Management Group Price Performance

Silvercrest Asset Management Group stock opened at $14.84 on Wednesday. Silvercrest Asset Management Group has a 1-year low of $13.54 and a 1-year high of $19.20. The firm has a market capitalization of $199.00 million, a P/E ratio of 18.55 and a beta of 0.84. The company’s 50-day moving average is $15.11 and its 200 day moving average is $16.98.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its quarterly earnings data on Thursday, May 8th. The asset manager reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.09). Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%. The firm had revenue of $31.39 million during the quarter, compared to analysts’ expectations of $33.21 million.

Silvercrest Asset Management Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 13th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date of this dividend is Friday, June 13th. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is currently 84.21%.

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.