Should You Invest in Silvercrest Asset Management Group (SAMG)?
Diamond Hill Capital, an investment management company, released its “Small Cap Fund” first-quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund outperformed the Russell 2000 Index and returned 6.31%, compared to the Index’s return of 2.74%. Strength in industrials, energy, and healthcare holdings contributed to the fund’s relative performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Diamond Hill Small Cap Fund highlighted stocks like Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) in the Q1 2023 investor letter. Headquartered in New York, New York, Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) is a wealth management firm. On May 12, 2023, Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) stock closed at $18.07 per share. One-month return of Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) was -2.22%, and its shares lost 7.38% of their value over the last 52 weeks. Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) has a market capitalization of $178.578 million.
Diamond Hill Small Cap Fund made the following comment about Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) in its Q1 2023 investor letter:
"Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) is a scalable boutique wealth management platform offering high-touch service to ultra-high net worth clients — a clientele who tend to have large and lasting relationships. Consequently, this business model generates attractive cash flows with relatively low capital intensity. Silvercrest’s management team is experienced and has developed a culture and brand that is resonating in the marketplace. We believe there is ample runway for Silvercrest to continue growing in the wealth management marketplace as it adds talent, expands into new geographies and adds service capabilities. Further, the company has a sizeable net cash position, and its balance sheet is relatively un-levered — positioning it to potentially identify acquisitions, particularly as valuations have re-set in the current interest rate environment."
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Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) at the end of the fourth quarter, which was 6 in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
