Silvercrest Asset Management Group (NASDAQ:SAMG) Cut to Buy at StockNews.com

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

Silvercrest Asset Management Group Trading Down 2.9 %

NASDAQ SAMG traded down $0.52 on Tuesday, hitting $17.59. 10,674 shares of the stock traded hands, compared to its average volume of 19,760. The stock has a 50-day moving average of $18.26 and a 200 day moving average of $17.57. Silvercrest Asset Management Group has a twelve month low of $13.93 and a twelve month high of $19.20. The company has a market capitalization of $243.89 million, a P/E ratio of 21.99 and a beta of 0.82.

Institutional Trading of Silvercrest Asset Management Group

Several institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its position in shares of Silvercrest Asset Management Group by 28.3% in the 4th quarter. Wells Fargo & Company MN now owns 5,604 shares of the asset manager’s stock worth $103,000 after buying an additional 1,236 shares during the last quarter. R Squared Ltd acquired a new position in Silvercrest Asset Management Group during the 4th quarter valued at approximately $122,000. Connor Clark & Lunn Investment Management Ltd. boosted its position 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 period. O Shaughnessy Asset Management LLC grew its stake in Silvercrest Asset Management Group by 72.0% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 19,856 shares of the asset manager’s stock worth $365,000 after buying an additional 8,313 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of Silvercrest Asset Management Group by 5.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 20,000 shares of the asset manager’s stock valued at $368,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 47.59% of the company’s stock.

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.