Silvercrest Asset Management Group (NASDAQ:SAMG) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $13.81 and traded as low as $10.13. Silvercrest Asset Management Group shares last traded at $10.27, with a volume of 62,520 shares changing hands.

Analyst Upgrades and Downgrades

SAMG has been the subject of several research reports. Zacks Research downgraded Silvercrest Asset Management Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Silvercrest Asset Management Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings cut shares of Silvercrest Asset Management Group from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 27th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce”.

Silvercrest Asset Management Group Stock Performance

The business has a fifty day simple moving average of $12.05 and a 200 day simple moving average of $13.81. The stock has a market cap of $121.70 million, a price-to-earnings ratio of 34.23 and a beta of 0.64.

Silvercrest Asset Management Group (NASDAQ:SAMG) last released its quarterly earnings results on Monday, May 11th. The asset manager reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.09). The company had revenue of $31.41 million during the quarter, compared to analyst estimates of $31.85 million. Silvercrest Asset Management Group had a return on equity of 10.51% and a net margin of 2.12%. On average, equities research analysts anticipate that Silvercrest Asset Management Group Inc. will post 0.53 EPS for the current fiscal year.

Silvercrest Asset Management Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Friday, June 12th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date was Friday, June 12th. Silvercrest Asset Management Group’s dividend payout ratio is 280.00%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several hedge funds have recently modified their holdings of the company. Rothschild Wealth LLC purchased a new stake in shares of Silvercrest Asset Management Group in the fourth quarter valued at $1,950,000. Teton Advisors LLC acquired a new position in Silvercrest Asset Management Group in the third quarter valued at $866,000. Renaissance Technologies LLC lifted its position in Silvercrest Asset Management Group by 3.0% during the first quarter. Renaissance Technologies LLC now owns 161,737 shares of the asset manager’s stock worth $2,174,000 after buying an additional 4,700 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Silvercrest Asset Management Group by 12.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 29,572 shares of the asset manager’s stock worth $397,000 after buying an additional 3,191 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in Silvercrest Asset Management Group in the 1st quarter worth about $192,000. 47.59% of the stock is owned by institutional investors and hedge funds.

Silvercrest Asset Management Group Company Profile

Silvercrest Asset Management Group Inc, headquartered in New York City, is an independent registered investment adviser that specializes in delivering customized wealth and asset management solutions for high-net-worth individuals, family offices and institutional clients. Founded in 2002 by senior professionals from leading financial institutions, Silvercrest has built its reputation on a disciplined, research-driven investment process and a commitment to personalized client service.

The firm’s core offerings include discretionary and non-discretionary portfolio management across equities, fixed income, hedge funds and alternative investments.