Artisan Partners Asset Management Inc. (NYSE:APAM) Sees Significant Increase in Short Interest

Artisan Partners Asset Management Inc. (NYSE:APAM) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 2,710,000 shares, an increase of 9.3% from the October 15th total of 2,480,000 shares. Based on an average daily volume of 412,700 shares, the days-to-cover ratio is presently 6.6 days.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $50.00 price objective on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. Evercore ISI upped their target price on Artisan Partners Asset Management from $40.00 to $44.00 and gave the company an “in-line” rating in a report on Thursday, November 7th. StockNews.com upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group dropped their target price on Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating for the company in a report on Thursday, October 3rd. Finally, TD Cowen increased their price target on Artisan Partners Asset Management from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $44.13.

Artisan Partners Asset Management Stock Up 0.4 %

Shares of NYSE APAM traded up $0.20 during midday trading on Monday, hitting $46.87. 399,123 shares of the company’s stock were exchanged, compared to its average volume of 448,415. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.73 and a quick ratio of 0.73. Artisan Partners Asset Management has a twelve month low of $36.45 and a twelve month high of $49.52. The company has a market cap of $3.77 billion, a PE ratio of 13.00 and a beta of 1.79. The firm’s fifty day simple moving average is $43.93 and its 200-day simple moving average is $42.64.

Artisan Partners Asset Management (NYSE:APAM) last issued its earnings results on Tuesday, October 29th. The asset manager reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Artisan Partners Asset Management had a return on equity of 71.50% and a net margin of 23.95%. The business had revenue of $279.60 million for the quarter, compared to analyst estimates of $279.70 million. During the same quarter last year, the company earned $0.75 EPS. The business’s quarterly revenue was up 12.4% on a year-over-year basis. Research analysts predict that Artisan Partners Asset Management will post 3.49 EPS for the current fiscal year.

Artisan Partners Asset Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $3.28 dividend on an annualized basis and a yield of 7.00%. Artisan Partners Asset Management’s dividend payout ratio is presently 79.11%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Matrix Trust Co acquired a new position in shares of Artisan Partners Asset Management in the third quarter worth $30,000. GAMMA Investing LLC grew its position in Artisan Partners Asset Management by 81.5% during the second quarter. GAMMA Investing LLC now owns 775 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 348 shares during the period. Hexagon Capital Partners LLC grew its position in Artisan Partners Asset Management by 41.8% during the third quarter. Hexagon Capital Partners LLC now owns 1,004 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 296 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Artisan Partners Asset Management by 735.9% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 1,212 shares of the asset manager’s stock valued at $52,000 after acquiring an additional 1,067 shares during the period. Finally, Quarry LP purchased a new stake in Artisan Partners Asset Management during the second quarter valued at about $63,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.