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

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the target 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. Approximately 0.6% of the shares of the stock are short sold. Based on an average trading volume of 23,200 shares, the days-to-cover ratio is presently 2.4 days.

Silvercrest Asset Management Group Trading Up 0.8 %

NASDAQ SAMG traded up $0.14 on Friday, hitting $17.99. 15,299 shares of the company were exchanged, compared to its average volume of 22,333. Silvercrest Asset Management Group has a 1-year low of $13.93 and a 1-year high of $19.20. The company has a market cap of $249.34 million, a P/E ratio of 22.49 and a beta of 0.82. The firm has a 50 day moving average of $18.19 and a two-hundred day moving average of $17.03.

Silvercrest Asset Management Group Announces Dividend

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

Institutional Trading of Silvercrest Asset Management Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position 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 purchasing an additional 2,072 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Silvercrest Asset Management Group by 30.8% in 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 period. Bank of New York Mellon Corp boosted its stake in Silvercrest Asset Management Group by 17.0% in the second 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. Jane Street Group LLC grew its holdings in Silvercrest Asset Management Group by 55.6% during the 3rd 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. raised its position in shares of Silvercrest Asset Management Group by 80.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after acquiring an additional 9,209 shares during the last quarter. 47.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.