Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Short Interest Up 29.5% in March

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 39,100 shares, an increase of 29.5% from the February 28th total of 30,200 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 24,100 shares, the days-to-cover ratio is currently 1.6 days.

Institutional Trading of Silvercrest Asset Management Group

Several hedge funds have recently made changes to their positions in the business. Gamco Investors INC. ET AL raised its position in Silvercrest Asset Management Group by 5.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager’s stock valued at $368,000 after purchasing an additional 1,000 shares during the period. Wells Fargo & Company MN raised its holdings in Silvercrest Asset Management Group by 28.3% during the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock valued at $103,000 after buying an additional 1,236 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Silvercrest Asset Management Group by 12.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 16,430 shares of the asset manager’s stock worth $302,000 after buying an additional 1,781 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in 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 buying an additional 1,781 shares during the period. Finally, Barclays PLC raised its stake in shares of Silvercrest Asset Management Group by 6.0% in the fourth quarter. Barclays PLC now owns 32,663 shares of the asset manager’s stock valued at $601,000 after acquiring an additional 1,849 shares during the period. 47.59% of the stock is currently owned by hedge funds and other institutional investors.

Silvercrest Asset Management Group Trading Up 1.1 %

Shares of NASDAQ:SAMG traded up $0.18 during mid-day trading on Tuesday, reaching $16.54. The stock had a trading volume of 41,350 shares, compared to its average volume of 27,516. The business’s 50 day moving average price is $17.75 and its 200 day moving average price is $17.70. Silvercrest Asset Management Group has a 1 year low of $13.93 and a 1 year high of $19.20. The company has a market cap of $225.51 million, a P/E ratio of 20.68 and a beta of 0.84.

Silvercrest Asset Management Group (NASDAQ:SAMG) last issued its quarterly earnings data on Thursday, March 6th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.13). Silvercrest Asset Management Group had a return on equity of 11.40% and a net margin of 6.24%. The firm had revenue of $31.96 million for the quarter, compared to analysts’ expectations of $31.97 million.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently disclosed 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 of this dividend was Friday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.84%. Silvercrest Asset Management Group’s payout ratio is currently 79.21%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a report on Friday.

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.