Zacks Investment Research Lowers Artisan Partners Asset Management Inc. (APAM) to Strong Sell

Artisan Partners Asset Management Inc. (NYSE:APAM) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday.

According to Zacks, “Artisan Partners Asset Management Inc. is an independent investment management firm that provides a broad range of U.S., non-U.S. and global equity investment strategies. The Company’s manages investments primarily through mutual funds and separate accounts. Its clients include pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. pooled investment vehicles. Artisan Partners Asset Management Inc. is based in Milwaukee, WI United States. “

APAM has been the topic of a number of other research reports. BidaskClub upgraded shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research report on Saturday, September 2nd. Jefferies Group LLC restated a “hold” rating on shares of Artisan Partners Asset Management in a research report on Friday, August 18th. Royal Bank Of Canada set a $36.00 price objective on shares of Artisan Partners Asset Management and gave the company a “buy” rating in a research report on Tuesday, August 1st. TheStreet upgraded shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research report on Monday, July 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $33.00 price objective on shares of Artisan Partners Asset Management in a research report on Thursday, June 1st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $29.94.

Shares of Artisan Partners Asset Management (APAM) traded up 0.81% during midday trading on Monday, hitting $31.00. 414,163 shares of the stock traded hands. The firm has a market capitalization of $1.54 billion, a PE ratio of 18.29 and a beta of 1.76. Artisan Partners Asset Management has a 52 week low of $24.48 and a 52 week high of $33.85. The company’s 50-day moving average is $30.47 and its 200 day moving average is $29.37.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Monday, July 31st. The asset manager reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.01). The firm had revenue of $196.20 million during the quarter, compared to the consensus estimate of $194.25 million. Artisan Partners Asset Management had a return on equity of 78.75% and a net margin of 11.37%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 EPS. Analysts anticipate that Artisan Partners Asset Management will post $2.34 earnings per share for the current year.

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A number of hedge funds have recently made changes to their positions in APAM. Quantbot Technologies LP increased its holdings in Artisan Partners Asset Management by 3.5% during the second quarter. Quantbot Technologies LP now owns 3,591 shares of the asset manager’s stock valued at $110,000 after buying an additional 120 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Artisan Partners Asset Management during the second quarter valued at approximately $120,000. Segantii Capital Management Ltd purchased a new stake in Artisan Partners Asset Management during the first quarter valued at approximately $135,000. Tower Research Capital LLC TRC purchased a new stake in Artisan Partners Asset Management during the first quarter valued at approximately $151,000. Finally, Utah Retirement Systems increased its holdings in Artisan Partners Asset Management by 10.4% during the first quarter. Utah Retirement Systems now owns 7,400 shares of the asset manager’s stock valued at $205,000 after buying an additional 700 shares during the last quarter. 99.82% of the stock is owned by institutional investors and hedge funds.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is an investment management company. The Company provides a range of the United States, non-United States and global investment strategies, each of which is managed by one of its investment teams. The Company provides investment management services to separate accounts, mutual funds and other pooled investment vehicles.

Analyst Recommendations for Artisan Partners Asset Management (NYSE:APAM)

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