Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:APAM Shares Take a Nearly 8 Percent Hit Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, April 10, 2014

APAM Shares Take a Nearly 8 Percent Hit

Reported by Sean Hanna, Editor in Chief

What's happening to the value of Artisan Partners Asset Management? Shares in the company took a hit today, dropping 7.7 percent to $57.06 by the Thursday market close.

No news story explains the fall, and the sole SEC filing is a 13G from Wellington that reveals that Wellington now holds 13.5 percent of Artisan's outstanding shares (bad news for Wellington clients).

A spokesperson was not immediately available to answer questions about reasons for the stock's movement.

One explanation may lie in a research note penned by Citi analyst Bill Katz that was picked up by Barron's. Katz informed clients that Artisan's AUM fell more than Katz expected in March, due to "a lumpy mandate loss." Still, Katz wrote that he was encouraged by "the initial disclosure of assets for High Yield."

Another explanation could be a recent shelf registration that allows Artisan to raise more cash at $62.82 per share. The SEC filing lets Artisan issue 10,020,396 additional shares.

The fund firm just celebrated its first birthday as a public company. It went public at $30 per share in March 2013.

Since the shelf registration, Artisan's share price has drifted downward, but still, today's fall hints of more. What that is, Mr. Market only knows. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2019: Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2019
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use