Artisan Partners Asset Management (NYSE:APAM) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Artisan Partners Asset Management (NYSE:APAM) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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. “

Separately, ValuEngine upgraded Artisan Partners Asset Management from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $29.00.

Shares of NYSE:APAM opened at $26.59 on Wednesday. Artisan Partners Asset Management has a 1 year low of $20.16 and a 1 year high of $30.26. The firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 0.89 and a beta of 1.85. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.56 and a quick ratio of 0.56. The business’s 50 day moving average price is $27.45 and its 200-day moving average price is $27.17.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, July 30th. The asset manager reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Artisan Partners Asset Management had a return on equity of 169.94% and a net margin of 18.40%. The firm had revenue of $200.70 million for the quarter, compared to analyst estimates of $196.99 million. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue was down 5.5% on a year-over-year basis. On average, sell-side analysts expect that Artisan Partners Asset Management will post 2.63 earnings per share for the current year.

Several large investors have recently made changes to their positions in APAM. Nisa Investment Advisors LLC raised its stake in Artisan Partners Asset Management by 0.9% in the 2nd quarter. Nisa Investment Advisors LLC now owns 45,450 shares of the asset manager’s stock valued at $1,251,000 after purchasing an additional 400 shares during the last quarter. Raymond James Trust N.A. raised its stake in Artisan Partners Asset Management by 4.9% in the 2nd quarter. Raymond James Trust N.A. now owns 9,357 shares of the asset manager’s stock valued at $258,000 after purchasing an additional 433 shares during the last quarter. We Are One Seven LLC raised its stake in Artisan Partners Asset Management by 4.2% in the 2nd quarter. We Are One Seven LLC now owns 12,808 shares of the asset manager’s stock valued at $352,000 after purchasing an additional 513 shares during the last quarter. Holocene Advisors LP raised its stake in Artisan Partners Asset Management by 3.7% in the 2nd quarter. Holocene Advisors LP now owns 16,141 shares of the asset manager’s stock valued at $444,000 after purchasing an additional 573 shares during the last quarter. Finally, Aperio Group LLC raised its stake in Artisan Partners Asset Management by 1.9% in the 2nd quarter. Aperio Group LLC now owns 30,138 shares of the asset manager’s stock valued at $829,000 after purchasing an additional 575 shares during the last quarter. Hedge funds and other institutional investors own 63.16% 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.

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