Silvercrest Asset Management Group (NASDAQ:SAMG) Lowered to Buy Rating by StockNews.com

Silvercrest Asset Management Group (NASDAQ:SAMG) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

Silvercrest Asset Management Group Stock Up 2.3 %

NASDAQ SAMG opened at $18.50 on Tuesday. The stock has a market capitalization of $256.41 million, a P/E ratio of 23.13 and a beta of 0.83. Silvercrest Asset Management Group has a 52-week low of $13.93 and a 52-week high of $18.69. The firm has a 50-day moving average price of $16.83 and a 200 day moving average price of $16.02.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Long Path Partners LP increased its holdings in Silvercrest Asset Management Group by 23.8% in the second quarter. Long Path Partners LP now owns 940,798 shares of the asset manager’s stock valued at $14,667,000 after buying an additional 180,627 shares in the last quarter. Royce & Associates LP increased its holdings in Silvercrest Asset Management Group by 6.6% in the third quarter. Royce & Associates LP now owns 586,300 shares of the asset manager’s stock valued at $10,108,000 after buying an additional 36,063 shares in the last quarter. Vanguard Group Inc. increased its holdings in Silvercrest Asset Management Group by 0.9% in the first quarter. Vanguard Group Inc. now owns 522,136 shares of the asset manager’s stock valued at $8,255,000 after buying an additional 4,756 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Silvercrest Asset Management Group by 11.5% in the second quarter. Renaissance Technologies LLC now owns 173,037 shares of the asset manager’s stock valued at $2,698,000 after buying an additional 17,800 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in Silvercrest Asset Management Group by 5.6% in the first quarter. Ancora Advisors LLC now owns 154,528 shares of the asset manager’s stock valued at $2,443,000 after buying an additional 8,245 shares in the last quarter. 47.59% of the stock is owned by hedge funds and other institutional investors.

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.