Pzena Investment Management Inc (NYSE:PZN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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 several other research reports. BidaskClub downgraded shares of Pzena Investment Management from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. ValuEngine downgraded shares of Pzena Investment Management from a “buy” rating to a “hold” rating in a report on Friday, September 1st.

Pzena Investment Management (NYSE:PZN) last announced its earnings results on Tuesday, July 18th. The asset manager reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The business had revenue of $34.11 million during the quarter, compared to the consensus estimate of $32.00 million. Pzena Investment Management had a net margin of 14.82% and a return on equity of 12.93%. The firm’s quarterly revenue was up 29.0% compared to the same quarter last year.

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A number of large investors have recently modified their holdings of the stock. Susquehanna International Group LLP acquired a new position in Pzena Investment Management in the 2nd quarter worth approximately $173,000. California State Teachers Retirement System increased its holdings in Pzena Investment Management by 1.7% in the 2nd quarter. California State Teachers Retirement System now owns 29,955 shares of the asset manager’s stock worth $304,000 after buying an additional 500 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Pzena Investment Management by 23.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,818 shares of the asset manager’s stock worth $191,000 after buying an additional 3,603 shares during the period. State Street Corp increased its holdings in Pzena Investment Management by 5.4% in the 2nd quarter. State Street Corp now owns 230,170 shares of the asset manager’s stock worth $2,338,000 after buying an additional 11,855 shares during the period. Finally, Punch & Associates Investment Management Inc. increased its holdings in Pzena Investment Management by 2.6% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 1,686,280 shares of the asset manager’s stock worth $17,133,000 after buying an additional 43,281 shares during the period. Institutional investors own 17.37% 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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