Pzena Investment Management Inc (PZN) Downgraded by Zacks Investment Research to “Hold”
Zacks Investment Research cut shares of Pzena Investment Management Inc (NYSE:PZN) from a buy rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Pzena Investment Management, LLC, which will become the company’s operating company upon the consummation of the offering, is a premier value-oriented investment management firm with a record of investment excellence and exceptional client service. “
PZN has been the topic of a number of other research reports. BidaskClub cut Pzena Investment Management from a hold rating to a sell rating in a report on Thursday, August 3rd. ValuEngine cut Pzena Investment Management from a buy rating to a hold rating in a report on Friday, September 1st.
Pzena Investment Management (NYSE PZN) traded up 0.51% during midday trading on Wednesday, hitting $9.84. The company had a trading volume of 11,074 shares. The stock has a 50 day moving average of $9.98 and a 200 day moving average of $9.78. The firm has a market cap of $170.08 million, a price-to-earnings ratio of 15.02 and a beta of 1.63. Pzena Investment Management has a 52-week low of $7.11 and a 52-week high of $11.85.
Pzena Investment Management (NYSE:PZN) last issued its earnings results on Tuesday, July 18th. The asset manager reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. Pzena Investment Management had a return on equity of 12.93% and a net margin of 14.82%. The firm had revenue of $34.11 million for the quarter, compared to analysts’ expectations of $32.00 million. The business’s revenue was up 29.0% compared to the same quarter last year. On average, analysts anticipate that Pzena Investment Management will post $0.58 EPS for the current year.
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The company also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Investors of record on Friday, July 28th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend was Wednesday, July 26th. Pzena Investment Management’s payout ratio is currently 18.18%.
Institutional investors have recently modified their holdings of the stock. Morgan Stanley boosted its holdings in Pzena Investment Management by 11.4% in the first quarter. Morgan Stanley now owns 141,694 shares of the asset manager’s stock valued at $1,394,000 after acquiring an additional 14,512 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Pzena Investment Management by 84.4% in the second quarter. Russell Investments Group Ltd. now owns 295,205 shares of the asset manager’s stock valued at $3,000,000 after acquiring an additional 135,095 shares during the last quarter. Mckinley Capital Management LLC Delaware boosted its holdings in Pzena Investment Management by 75.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 129,795 shares of the asset manager’s stock valued at $1,277,000 after acquiring an additional 55,651 shares during the last quarter. Martingale Asset Management L P boosted its holdings in Pzena Investment Management by 142.8% in the first quarter. Martingale Asset Management L P now owns 67,031 shares of the asset manager’s stock valued at $660,000 after acquiring an additional 39,422 shares during the last quarter. Finally, Teachers Advisors LLC boosted its holdings in Pzena Investment Management by 20.5% in the fourth quarter. Teachers Advisors LLC now owns 55,262 shares of the asset manager’s stock valued at $614,000 after acquiring an additional 9,402 shares during the last quarter. Hedge funds and other institutional investors own 17.38% of the company’s stock.
Pzena Investment Management Company Profile
Pzena Investment Management, Inc is a holding company. The Company is the sole managing member of Pzena Investment Management, LLC. Pzena Investment Management, LLC is an investment management company. The Company also serves as the general partner of Pzena Investment Management, LP. The Company offers institutional investment products to public and corporate pension funds, endowments, foundations and certain commingled vehicles geared toward institutional investors.
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