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

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

Hedge Funds Weigh In On Silvercrest Asset Management Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp raised its holdings in Silvercrest Asset Management Group by 17.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,454 shares of the asset manager’s stock valued at $740,000 after acquiring an additional 6,910 shares during the last quarter. Rhumbline Advisers grew its position in shares of Silvercrest Asset Management Group by 15.7% in the second quarter. Rhumbline Advisers now owns 15,230 shares of the asset manager’s stock valued at $237,000 after purchasing an additional 2,072 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 17,800 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of Silvercrest Asset Management Group in the second quarter valued at approximately $270,000. Finally, Long Path Partners LP lifted its position in Silvercrest Asset Management Group by 23.8% during the second quarter. Long Path Partners LP now owns 940,798 shares of the asset manager’s stock worth $14,667,000 after buying an additional 180,627 shares in the last quarter. 47.59% of the stock is owned by hedge funds and other institutional investors.

Silvercrest Asset Management Group Stock Performance

Shares of SAMG traded up $0.14 during trading hours on Friday, hitting $17.99. 15,299 shares of the stock were exchanged, compared to its average volume of 22,354. The stock’s 50-day moving average price is $18.19 and its two-hundred day moving average price is $17.05. The company has a market cap of $249.34 million, a price-to-earnings ratio of 22.49 and a beta of 0.82. Silvercrest Asset Management Group has a 12-month low of $13.93 and a 12-month 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. Stockholders of record on Friday, December 13th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date was Friday, December 13th. Silvercrest Asset Management Group’s payout ratio is 100.00%.

Analyst Ratings Changes

Separately, StockNews.com upgraded Silvercrest Asset Management Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, November 20th.

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.