Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Short Interest Up 25.7% in June

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 42,100 shares, a growth of 25.7% from the June 15th total of 33,500 shares. Based on an average daily volume of 34,900 shares, the days-to-cover ratio is presently 1.2 days. Currently, 0.5% of the shares of the company are short sold.

Silvercrest Asset Management Group Stock Performance

NASDAQ:SAMG traded up $0.58 during trading hours on Monday, hitting $17.00. The company’s stock had a trading volume of 4,380 shares, compared to its average volume of 27,244. The business’s 50-day moving average is $15.29 and its two-hundred day moving average is $15.74. The company has a market capitalization of $236.47 million, a PE ratio of 17.28 and a beta of 0.85. Silvercrest Asset Management Group has a 52-week low of $13.93 and a 52-week high of $23.20.

Silvercrest Asset Management Group (NASDAQ:SAMG) last posted its earnings results on Thursday, May 2nd. The asset manager reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $30.27 million during the quarter, compared to analyst estimates of $30.11 million. Silvercrest Asset Management Group had a net margin of 7.52% and a return on equity of 12.88%. As a group, analysts predict that Silvercrest Asset Management Group will post 1.54 EPS for the current fiscal year.

Silvercrest Asset Management Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 14th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.47%. The ex-dividend date of this dividend was Friday, June 14th. Silvercrest Asset Management Group’s dividend payout ratio (DPR) is 80.00%.

Insider Transactions at Silvercrest Asset Management Group

In related news, major shareholder Path Smaller Companies Fu Long purchased 5,112 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was acquired at an average price of $15.05 per share, for a total transaction of $76,935.60. Following the completion of the purchase, the insider now directly owns 940,798 shares of the company’s stock, valued at $14,159,009.90. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 16.26% of the company’s stock.

Institutional Trading of Silvercrest Asset Management Group

Several large investors have recently bought and sold shares of SAMG. Invenomic Capital Management LP grew its holdings in Silvercrest Asset Management Group by 23.4% in the fourth quarter. Invenomic Capital Management LP now owns 265,540 shares of the asset manager’s stock valued at $4,514,000 after purchasing an additional 50,389 shares during the last quarter. HM Payson & Co. grew its holdings in Silvercrest Asset Management Group by 1,784.6% in the first quarter. HM Payson & Co. now owns 46,888 shares of the asset manager’s stock valued at $741,000 after purchasing an additional 44,400 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Silvercrest Asset Management Group during the fourth quarter valued at $529,000. Keeley Teton Advisors LLC boosted its stake in shares of Silvercrest Asset Management Group by 12.3% during the fourth quarter. Keeley Teton Advisors LLC now owns 228,790 shares of the asset manager’s stock valued at $3,889,000 after acquiring an additional 25,102 shares during the last quarter. Finally, Citigroup Inc. boosted its stake in shares of Silvercrest Asset Management Group by 125.9% during the third quarter. Citigroup Inc. now owns 27,942 shares of the asset manager’s stock valued at $443,000 after acquiring an additional 15,571 shares during the last quarter. Institutional investors and hedge funds own 47.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Singular Research reiterated a “buy” rating on shares of Silvercrest Asset Management Group in a research report on Monday, March 18th.

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.