Artisan Partners Asset Management Inc. (NYSE: APAM) stock fell -1.06% on Thursday to $37.19 against a previous-day closing price of $37.59. With 0.75 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.91 million shares. During the session, the Asset Management company that operates in wider Financial sector, reached to the highest price of $37.63 whereas the lowest price it dropped to was $36.88. The 52-week range on APAM shows that it touched its highest point at $42.97 and its lowest point at $25.42 during that stretch. It currently has a 1-year price target of $38.06. With its current market cap of 2.97 billion, APAM has annualized dividend of $2.44 while the current yield stands at 6.56%. Beta for the stock currently stands at 1.86.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of APAM was down-trending over the past week, with a drop of -1.93%, but this was down by -0.16% over a month. Three-month performance dropped to -3.25% while six-month performance rose 25.35%. The stock gained 15.13% in the past year, while it has gained 26.45% so far this year. A look at the trailing 12-month EPS for APAM yields 2.92 with Next year EPS estimates of 3.25. For the next quarter, that number is 0.79. This implies an EPS growth rate of -42.20% for this year and 10.34% for next year. EPS is expected to grow by 23.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 6.60%.
Float and Shares Shorts:
At present, 79.96 million APAM shares are outstanding with a float of 66.93 million shares on hand for trading. On Aug 30, 2023, short shares totaled 6.21 million, which was 9.07% higher than short shares on Jul 30, 2023. In addition to APA as the firm’s APA Corporation, EPAM serves as its EPAM Systems, Inc.
Through their ownership of 87.63% of APAM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.54% of APAM, in contrast to 47.19% held by mutual funds. Shares owned by individuals account for 3.30%. As the largest shareholder in APAM with 11.29% of the stake, The Vanguard Group, Inc. holds 7,726,103 shares worth 7,726,103. A second-largest stockholder of APAM, Kayne Anderson Rudnick Investment, holds 6,796,886 shares, controlling over 9.93% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in APAM, holding 5,608,851 shares or 8.19% stake. With a 3.22% stake in APAM, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,201,089 shares are owned by the mutual fund manager. The iShares Core S&P Small Cap ETF, which owns about 3.17% of APAM stock, is the second-largest Mutual Fund holder. It holds 2,170,934 shares valued at 90.07 million. Vanguard Small Cap Index Fund holds 2.59% of the stake in APAM, owning 1,775,499 shares worth 73.67 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, APAM reported revenue of $251.40M and operating income of $88.40M. The EBITDA in the recently reported quarter was $88.40M and diluted EPS was $0.62.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for APAM since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With APAM analysts setting a high price target of $45.00 and a low target of $30.50, the average target price over the next 12 months is $37.63. Based on these targets, APAM could surge 21.0% to reach the target high and fall by -17.99% to reach the target low. Reaching the average price target will result in a growth of 1.18% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded APAM stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 16 while that of sell transactions has risen to 5 over the past year. The total number of shares bought during that period was 282,950 while 28,800 shares were sold.