Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Short Interest Up 26.8% in December

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 36,000 shares, a growth of 26.8% from the November 30th total of 28,400 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 22,400 shares, the days-to-cover ratio is presently 1.6 days.

Analysts Set New Price Targets

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

Silvercrest Asset Management Group Stock Performance

Shares of Silvercrest Asset Management Group stock traded up $0.20 on Tuesday, hitting $18.64. The company had a trading volume of 5,635 shares, compared to its average volume of 26,106. The stock has a 50 day moving average of $17.96 and a 200-day moving average of $16.78. Silvercrest Asset Management Group has a 1 year low of $13.93 and a 1 year high of $19.20. The stock has a market capitalization of $258.44 million, a price-to-earnings ratio of 23.30 and a beta of 0.83.

Silvercrest Asset Management Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend was Friday, December 13th. Silvercrest Asset Management Group’s payout ratio is currently 100.00%.

Institutional Investors Weigh In On Silvercrest Asset Management Group

A number of institutional investors have recently added to or reduced their stakes in SAMG. Rhumbline Advisers boosted its stake in 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 acquiring an additional 2,072 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Silvercrest Asset Management Group by 30.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 14,649 shares of the asset manager’s stock worth $253,000 after buying an additional 3,446 shares during the last quarter. Bank of New York Mellon Corp grew its position 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 worth $740,000 after acquiring an additional 6,910 shares in the last quarter. Jane Street Group LLC increased its stake in 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 valued at $345,000 after acquiring an additional 7,155 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Silvercrest Asset Management Group by 80.8% during the third quarter. JPMorgan Chase & Co. now owns 20,605 shares of the asset manager’s stock valued at $355,000 after purchasing an additional 9,209 shares in the last quarter. 47.59% of the stock is owned by institutional investors.

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.