Manning and Napier Inc (MN) Upgraded at ValuEngine
Manning and Napier Inc (NYSE:MN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Friday.
Several other research analysts also recently commented on the company. Zacks Investment Research upgraded Manning and Napier from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Keefe, Bruyette & Woods restated a “hold” rating and set a $4.00 price objective on shares of Manning and Napier in a report on Thursday, August 3rd.
Manning and Napier (MN) opened at 3.60 on Friday. The stock has a market capitalization of $54.28 million, a PE ratio of 6.84 and a beta of 1.40. Manning and Napier has a 1-year low of $3.00 and a 1-year high of $8.15. The stock’s 50 day moving average price is $3.76 and its 200 day moving average price is $4.86.
Manning and Napier (NYSE:MN) last issued its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.12 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.12. Manning and Napier had a return on equity of 3.91% and a net margin of 27.98%. The firm had revenue of $51.53 million during the quarter, compared to analyst estimates of $50.22 million. During the same period last year, the company earned $0.17 EPS. Manning and Napier’s quarterly revenue was down 20.1% compared to the same quarter last year. On average, equities research analysts predict that Manning and Napier will post $0.46 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MN. Goldman Sachs Group Inc. purchased a new position in Manning and Napier during the second quarter valued at approximately $382,000. OxFORD Asset Management LLP increased its position in Manning and Napier by 289.8% in the second quarter. OxFORD Asset Management LLP now owns 69,767 shares of the asset manager’s stock valued at $303,000 after buying an additional 51,867 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Manning and Napier by 23.2% in the second quarter. Dimensional Fund Advisors LP now owns 348,155 shares of the asset manager’s stock valued at $1,514,000 after buying an additional 65,630 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in Manning and Napier during the second quarter valued at approximately $245,000. Finally, Hancock Holding Co. increased its position in Manning and Napier by 26.9% in the second quarter. Hancock Holding Co. now owns 36,742 shares of the asset manager’s stock valued at $160,000 after buying an additional 7,795 shares during the last quarter. Institutional investors own 57.25% of the company’s stock.
Manning and Napier Company Profile
Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds, as well as a range of consultative services.
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