Bank of America Downgrades Artisan Partners Asset Management Inc to Underperform

Brokerage firm Bank of America Downgrades its rating on Artisan Partners Asset Management Inc(NYSE:APAM). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Bank of America was issued on Jun 28, 2016.

Artisan Partners Asset Management Inc (APAM) made into the market gainers list on Fridays trading session with the shares advancing 0.07% or 0.02 points. Due to strong positive momentum, the stock ended at $27.7, which is also near the day’s high of $28.08. The stock began the session at $27.62 and the volume stood at 2,15,823 shares. The 52-week high of the shares is $48.39 and the 52 week low is $23.65. The company has a current market capitalization of $2,063 M and it has 7,44,75,391 shares in outstanding.

Artisan Partners Asset Management Inc(APAM) last announced its earnings results on Apr 25, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $174.50M. Analysts had an estimated revenue of $177.66M. Earnings per share were $0.51. Analysts had estimated an EPS of $0.53.

Several Insider Transactions has been reported to the SEC. On Jan 27, 2016, Stephanie Dimarco (director) purchased 1,078 shares at $38.95 per share price.Also, 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.

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