Short Interest in Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) Increases Significantly

Silvercrest Asset Management Group Inc. (NASDAQ:SAMG - Get Free Report) experienced a notable rise in short interest throughout December. As of December 15th, the company had short interest totaling 36,000 shares, reflecting a significant increase of 26.8% from the 28,400 shares recorded on November 30th. Given an average daily trading volume of 22,400 shares, the current short-interest ratio stands at 1.6 days. At this time, approximately 0.4% of the company's shares are reported as sold short.

Institutional Investors Update on Silvercrest Asset Management Group

Several institutional investors have recently adjusted their positions in Silvercrest Asset Management Group (SAMG). Connor Clark & Lunn Investment Management Ltd. raised its stake in the company by 30.8% during the third quarter, bringing its total ownership to 14,649 shares valued at $253,000 after acquiring an additional 3,446 shares. Similarly, Rhumbline Advisers increased its holdings by 15.7% in the second quarter, owning now 15,230 shares worth $237,000 after an additional purchase of 2,072 shares. HSBC Holdings PLC took a new position in the company during the same period, valued around $270,000. Jane Street Group LLC saw a substantial increase in its stake, raising its holdings by 55.6% in the third quarter to own 20,030 shares valued at $345,000, following the acquisition of 7,155 shares. Lastly, JPMorgan Chase & Co. boosted its holdings by 80.8% during the third quarter, now owning 20,605 shares worth about $355,000 after an increase of 9,209 shares. Currently, institutional investors hold approximately 47.59% of the company’s stock.

Silvercrest Asset Management Group Stock Performance

On a recent trading day, shares of SAMG increased by 1.1%, reaching $18.64. The trading volume for the day was 5,635 shares, compared to the average volume of 26,106 shares. Silvercrest Asset Management Group's stock has a 50-day simple moving average of $17.96 and a two-hundred day average of $16.78. The stock has seen a low of $13.93 and a high of $19.20 over the past year. With a market capitalization of approximately $258.44 million, its price-to-earnings (P/E) ratio is 23.30 and a beta of 0.83 indicates a lower volatility compared to the overall market.

Dividend Announcement from Silvercrest Asset Management Group

The company has also announced a quarterly dividend, which was paid to shareholders on December 20th. The dividend amount was $0.20 per share for stockholders on record as of December 13th. This translates to an annualized dividend of $0.80, resulting in a dividend yield of 4.29%. The date for the stock to be trading without this dividend (ex-dividend date) was December 13th, and Silvercrest Asset Management Group's payout ratio stands at 100.00%.

Wall Street Analysts' Perspectives

In addition, analysts from StockNews.com have upgraded their rating on shares of Silvercrest Asset Management Group from a "buy" rating to a "strong-buy" rating as noted in a research release dated November 20th.

About Silvercrest Asset Management Group

Silvercrest Asset Management Group Inc is a reputable wealth management firm that provides a range of financial advisory services and family office solutions primarily in the United States. They cater to ultra-high net worth individuals and families, along with managing trusts, endowments, foundations, and various institutional investors.

Conclusion

The recent developments regarding short interest and institutional investor activity with Silvercrest Asset Management Group suggest growing interest and potential market movements. Investors may wish to monitor these trends closely.

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