Artisan Partners Asset Management Inc (APAM) is Downgraded by BofA/Merrill to Underperform

Artisan Partners Asset Management Inc (APAM) was Downgraded by BofA/Merrill to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 28, 2016.

Many Wall Street Analysts have commented on Artisan Partners Asset Management Inc. Company shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Outperform”, Firm has raised the Price Target to $ 38 from a previous price target of $37 .

On the company’s financial health, Artisan Partners Asset Management Inc reported $0.51 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Apr 25, 2016. Analyst had a consensus of $0.52. The company had revenue of $174.50 million for the quarter, compared to analysts expectations of $177.29 million. The company’s revenue was down -14.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.65 EPS.

Artisan Partners Asset Management Inc closed down -2.28 points or -7.89% at $26.6 with 5,32,689 shares getting traded on Monday. Post opening the session at $28.4, the shares hit an intraday low of $26.21 and an intraday high of $28.4 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jan 27, 2016, Stephanie Dimarco (director) purchased 1,078 shares at $38.95 per share price. According to the SEC, on Sep 11, 2015, Seth W Brennan (director) purchased 12,500 shares at $39.08 per share price. On Aug 18, 2015, Charles J Jr Daley (Exec VP, CFO & Treasurer) sold 5,000 shares at $46.37 per share price, according to the Form-4 filing with the securities and exchange commission.

Artisan Partners Asset Management Inc. is an investment management firm. The Firm provides a range of United States non-United States and global investment strategies. The Firm’s operations are conducted through Artisan Partners Holdings and its subsidiaries. It derives its revenues from investment management fees. In addition to its investment teams the Firm also has a team that is focused on its business of achieving growth expanding investment capabilities the source of assets under management and delivering client service. The Firm’s management team supports its investment management capabilities and manages infrastructure which allows its investment professionals to focus on making investment decisions and generating returns. Artisan Partners’ investment strategies are offered through a variety of investment vehicles to accommodate a range of client mandates including Separate Account Management Mutual Fund Vehicles Collective Investment Trusts and UCITS Vehicles.

Artisan Partners Asset Management Inc

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