StockNews.com Upgrades Silvercrest Asset Management Group (NASDAQ:SAMG) to “Strong-Buy”

Silvercrest Asset Management Group (NASDAQ:SAMG) was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

Silvercrest Asset Management Group Stock Up 2.5 %

Shares of SAMG opened at $16.98 on Monday. The stock’s fifty day simple moving average is $16.74 and its 200-day simple moving average is $15.96. The firm has a market capitalization of $237.57 million, a PE ratio of 21.23 and a beta of 0.83. Silvercrest Asset Management Group has a 12-month low of $13.93 and a 12-month high of $18.09.

Hedge Funds Weigh In On Silvercrest Asset Management Group

Large investors have recently bought and sold shares of the business. Long Path Partners LP raised its position in shares of Silvercrest Asset Management Group by 23.8% during the 2nd quarter. Long Path Partners LP now owns 940,798 shares of the asset manager’s stock valued at $14,667,000 after acquiring an additional 180,627 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Silvercrest Asset Management Group in the second quarter valued at about $270,000. Renaissance Technologies LLC boosted its holdings in Silvercrest Asset Management Group by 11.5% during the second quarter. Renaissance Technologies LLC now owns 173,037 shares of the asset manager’s stock worth $2,698,000 after buying an additional 17,800 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Silvercrest Asset Management Group by 29.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 123,722 shares of the asset manager’s stock worth $1,929,000 after buying an additional 28,298 shares during the period. Finally, Koss Olinger Consulting LLC bought a new stake in shares of Silvercrest Asset Management Group in the 2nd quarter valued at about $457,000. 47.59% of the stock is currently owned by institutional investors and hedge funds.

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.