Pzena Investment Management Inc (NYSE:PZN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The firm presently has a $14.00 target price on the asset manager’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 16.86% from the company’s current price.

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. “

Other analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Pzena Investment Management from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. BidaskClub upgraded shares of Pzena Investment Management from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th.

Pzena Investment Management (NYSE:PZN) traded up 0.42% on Wednesday, hitting $11.98. 52,896 shares of the company were exchanged. Pzena Investment Management has a 52 week low of $7.11 and a 52 week high of $12.70. The stock has a 50 day moving average of $10.69 and a 200 day moving average of $10.09. The company has a market capitalization of $207.07 million, a price-to-earnings ratio of 17.07 and a beta of 1.65.

Pzena Investment Management (NYSE:PZN) last released its quarterly earnings results on Tuesday, October 17th. The asset manager reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $36.23 million for the quarter, compared to analysts’ expectations of $35.00 million. Pzena Investment Management had a net margin of 14.41% and a return on equity of 13.36%. The company’s revenue for the quarter was up 34.2% on a year-over-year basis. Analysts predict that Pzena Investment Management will post $0.60 EPS for the current fiscal year.

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Large investors have recently added to or reduced their stakes in 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 in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Pzena Investment Management by 84.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 295,205 shares of the asset manager’s stock valued at $3,000,000 after buying an additional 135,095 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Pzena Investment Management by 35.5% during the 1st quarter. Swiss National Bank now owns 22,900 shares of the asset manager’s stock valued at $225,000 after buying an additional 6,000 shares in the last quarter. Penn Capital Management Co. Inc. bought a new stake in shares of Pzena Investment Management during the 2nd quarter valued at $770,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Pzena Investment Management by 190.8% during the 1st quarter. Wells Fargo & Company MN now owns 25,642 shares of the asset manager’s stock valued at $253,000 after buying an additional 16,823 shares in the last quarter. Institutional investors and hedge funds own 17.40% of the company’s stock.

About Pzena Investment Management

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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