Short Interest in Artisan Partners Asset Management Inc (NYSE:APAM) Expands By 28.8%

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Artisan Partners Asset Management Inc (NYSE:APAM) was the recipient of a large growth in short interest in September. As of September 30th, there was short interest totalling 1,340,000 shares, a growth of 28.8% from the September 15th total of 1,040,000 shares. Based on an average daily volume of 491,900 shares, the short-interest ratio is currently 2.7 days.

Hedge funds and other institutional investors have recently made changes to their positions in the company. USA Financial Portformulas Corp purchased a new stake in shares of Artisan Partners Asset Management during the third quarter worth about $38,000. US Bancorp DE grew its stake in Artisan Partners Asset Management by 128.7% in the second quarter. US Bancorp DE now owns 1,576 shares of the asset manager’s stock worth $51,000 after purchasing an additional 887 shares in the last quarter. Nachman Norwood & Parrott Inc acquired a new position in Artisan Partners Asset Management in the third quarter worth about $78,000. New York State Teachers Retirement System grew its stake in Artisan Partners Asset Management by 18.9% in the second quarter. New York State Teachers Retirement System now owns 4,400 shares of the asset manager’s stock worth $143,000 after purchasing an additional 700 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in Artisan Partners Asset Management by 76.0% in the second quarter. Bank of Montreal Can now owns 4,809 shares of the asset manager’s stock worth $151,000 after purchasing an additional 2,076 shares in the last quarter. 66.55% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on APAM shares. ValuEngine raised Artisan Partners Asset Management from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Friday, October 9th. Goldman Sachs Group upgraded Artisan Partners Asset Management from a “sell” rating to a “buy” rating and set a $44.00 target price on the stock in a report on Friday, July 31st. Bank of America increased their target price on Artisan Partners Asset Management from $35.00 to $39.00 and gave the company a “buy” rating in a report on Friday, July 10th. Finally, Citigroup increased their target price on Artisan Partners Asset Management from $41.00 to $49.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Artisan Partners Asset Management has a consensus rating of “Buy” and an average price target of $41.33.

Artisan Partners Asset Management stock traded up $0.19 during midday trading on Friday, reaching $46.00. The stock had a trading volume of 405,938 shares, compared to its average volume of 531,896. Artisan Partners Asset Management has a twelve month low of $17.69 and a twelve month high of $46.64. The stock has a market capitalization of $3.61 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 0.86 and a beta of 1.94. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s 50-day simple moving average is $39.17 and its 200 day simple moving average is $32.67.

Artisan Partners Asset Management (NYSE:APAM) last announced its earnings results on Tuesday, July 28th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.10. Artisan Partners Asset Management had a return on equity of 177.54% and a net margin of 20.41%. The business had revenue of $203.00 million for the quarter, compared to analyst estimates of $192.01 million. During the same period in the previous year, the company earned $0.67 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities analysts predict that Artisan Partners Asset Management will post 3.13 earnings per share for the current fiscal year.

About Artisan Partners Asset Management

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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