Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Sees Large Decline in Short Interest

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 28,400 shares, a decline of 25.3% from the November 15th total of 38,000 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 21,500 shares, the days-to-cover ratio is currently 1.3 days.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of large investors have recently added to or reduced their stakes in SAMG. Barclays PLC boosted its position in shares of Silvercrest Asset Management Group by 48.8% in the 3rd quarter. Barclays PLC now owns 30,814 shares of the asset manager’s stock worth $531,000 after purchasing an additional 10,110 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Silvercrest Asset Management Group by 4.9% during the third quarter. Geode Capital Management LLC now owns 223,418 shares of the asset manager’s stock valued at $3,852,000 after buying an additional 10,477 shares during the last quarter. Jane Street Group LLC increased its position in shares of Silvercrest Asset Management Group by 55.6% during the third quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock valued at $345,000 after acquiring an additional 7,155 shares in the last quarter. Martingale Asset Management L P lifted its position in Silvercrest Asset Management Group by 111.2% in the 3rd quarter. Martingale Asset Management L P now owns 22,447 shares of the asset manager’s stock valued at $387,000 after acquiring an additional 11,818 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Silvercrest Asset Management Group by 30.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock valued at $253,000 after purchasing an additional 3,446 shares during the last quarter. Institutional investors own 47.59% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 20th.

Silvercrest Asset Management Group Stock Performance

NASDAQ SAMG traded down $0.42 on Friday, hitting $18.41. 14,684 shares of the stock traded hands, compared to its average volume of 26,019. The business’s fifty day moving average is $17.69 and its two-hundred day moving average is $16.52. The firm has a market capitalization of $255.16 million, a price-to-earnings ratio of 23.79 and a beta of 0.83. Silvercrest Asset Management Group has a 12 month low of $13.93 and a 12 month high of $19.12.

Silvercrest Asset Management Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Friday, December 13th. Silvercrest Asset Management Group’s dividend payout ratio is presently 100.00%.

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.