Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Sees Significant Increase in Short Interest

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the recipient of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 56,800 shares, an increase of 57.8% from the December 15th total of 36,000 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily volume of 23,200 shares, the days-to-cover ratio is presently 2.4 days.

Silvercrest Asset Management Group Stock Performance

Shares of NASDAQ:SAMG traded up $0.14 during trading on Friday, reaching $17.99. 15,299 shares of the stock traded hands, compared to its average volume of 22,354. The stock has a market cap of $249.34 million, a P/E ratio of 22.49 and a beta of 0.82. The stock has a 50-day moving average of $18.19 and a two-hundred day moving average of $17.05. Silvercrest Asset Management Group has a 52-week low of $13.93 and a 52-week high of $19.20.

Silvercrest Asset Management Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, December 13th. This represents a $0.80 annualized dividend and a yield of 4.45%. Silvercrest Asset Management Group’s dividend payout ratio is 100.00%.

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 research note on Wednesday, November 20th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Silvercrest Asset Management Group by 30.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock valued at $253,000 after buying an additional 3,446 shares during the last quarter. Rhumbline Advisers lifted its stake in Silvercrest Asset Management Group by 15.7% during the 2nd quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock valued at $237,000 after acquiring an additional 2,072 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of Silvercrest Asset Management Group during the 2nd quarter valued at about $270,000. Jane Street Group LLC grew its stake in shares of Silvercrest Asset Management Group by 55.6% in the third quarter. Jane Street Group LLC now owns 20,030 shares of the asset manager’s stock worth $345,000 after acquiring an additional 7,155 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Silvercrest Asset Management Group by 80.8% in the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock worth $355,000 after acquiring an additional 9,209 shares during the period. Hedge funds and other institutional investors own 47.59% of the company’s stock.

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.