From MarketBeat:

Artisan Partners Asset Management (NYSE:APAM) was upgraded to a “buy” rating by StockNews.com. Several other analysts have also weighed in, with a consensus rating of “Hold” and a price target of $36.00. The stock traded at $42.55 on Thursday.

The company reported quarterly earnings of $0.75 per share, surpassing analysts’ forecasts. Revenue for the quarter was $248.7 million, a 6.1% increase from the previous year. For the year, earnings per share are expected to be 2.8.

Institutional investors have been making moves with this stock. Hedge funds have boosted their stakes, with one increasing its position by 5.7% during the fourth quarter. Overall, hedge funds and institutions own 89.45% of the company’s stock.

Artisan Partners Asset Management is an investment manager which offers its services to a wide range of clients, including pension plans, non-U.S. funds, and charitable organizations. The stock has a market capitalization of $3.40 billion and a price-to-earnings ratio of 14.18.



Read more: Artisan Partners Asset Management (NYSE:APAM) Stock Rating Upgraded by StockNews.com