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

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) saw a large increase in short interest in January. As of January 15th, there was short interest totaling 94,907 shares, an increase of 21.4% from the December 31st total of 78,161 shares. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 32,117 shares, the days-to-cover ratio is presently 3.0 days. Based on an average trading volume of 32,117 shares, the days-to-cover ratio is presently 3.0 days. Approximately 1.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SAMG. Weiss Ratings restated a “hold (c-)” rating on shares of Silvercrest Asset Management Group in a research report on Thursday, January 22nd. Zacks Research upgraded Silvercrest Asset Management Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Insider Buying and Selling

In related news, Director John Allen Gray acquired 5,500 shares of Silvercrest Asset Management Group stock in a transaction on Friday, November 28th. The stock was bought at an average cost of $13.83 per share, for a total transaction of $76,065.00. Following the completion of the transaction, the director owned 41,610 shares of the company’s stock, valued at approximately $575,466.30. The trade was a 15.23% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have acquired 21,785 shares of company stock valued at $298,762. 20.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Silvercrest Asset Management Group

Several hedge funds and other institutional investors have recently bought and sold shares of SAMG. Gabelli Funds LLC raised its position in Silvercrest Asset Management Group by 629.9% in the second quarter. Gabelli Funds LLC now owns 184,887 shares of the asset manager’s stock valued at $2,932,000 after purchasing an additional 159,555 shares during the period. Marshall Wace LLP purchased a new stake in Silvercrest Asset Management Group in the 2nd quarter valued at about $1,014,000. Teton Advisors LLC purchased a new stake in Silvercrest Asset Management Group in the 3rd quarter valued at about $866,000. Hsbc Holdings PLC lifted its position in Silvercrest Asset Management Group by 191.9% in the second quarter. Hsbc Holdings PLC now owns 65,249 shares of the asset manager’s stock valued at $1,045,000 after buying an additional 42,898 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Silvercrest Asset Management Group during the second quarter worth about $316,000. 47.59% of the stock is currently owned by institutional investors and hedge funds.

Silvercrest Asset Management Group Stock Performance

NASDAQ:SAMG opened at $14.78 on Thursday. Silvercrest Asset Management Group has a one year low of $13.23 and a one year high of $19.03. The stock has a market cap of $180.91 million, a PE ratio of 20.82 and a beta of 0.70. The stock has a 50 day moving average price of $15.12 and a 200 day moving average price of $15.30.

About Silvercrest Asset Management Group

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.