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

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. “

Separately, ValuEngine lowered Pzena Investment Management from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.

Shares of Pzena Investment Management (NYSE:PZN) opened at $10.86 on Thursday. Pzena Investment Management has a 52 week low of $8.25 and a 52 week high of $12.70. The firm has a market capitalization of $749.86, a price-to-earnings ratio of 18.69 and a beta of 1.75.

Pzena Investment Management (NYSE:PZN) last released its earnings results on Tuesday, October 17th. The asset manager reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Pzena Investment Management had a return on equity of 12.92% and a net margin of 14.41%. The business had revenue of $36.23 million for the quarter, compared to analyst estimates of $35.00 million. The company’s revenue was up 34.2% on a year-over-year basis. analysts expect that Pzena Investment Management will post 0.6 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Punch & Associates Investment Management Inc. grew its position in shares of Pzena Investment Management by 2.6% during 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 in the last quarter. Epoch Investment Partners Inc. grew its position in shares of Pzena Investment Management by 1.2% during the 3rd quarter. Epoch Investment Partners Inc. now owns 1,399,930 shares of the asset manager’s stock worth $15,245,000 after buying an additional 16,511 shares in the last quarter. Deprince Race & Zollo Inc. grew its position in shares of Pzena Investment Management by 29.8% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 842,134 shares of the asset manager’s stock worth $9,171,000 after buying an additional 193,117 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Pzena Investment Management by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 786,395 shares of the asset manager’s stock worth $7,990,000 after buying an additional 18,356 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Pzena Investment Management by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 384,262 shares of the asset manager’s stock worth $4,185,000 after buying an additional 11,181 shares in the last quarter. 17.70% of the stock is currently owned by institutional investors and hedge funds.

ILLEGAL ACTIVITY NOTICE: This piece was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another publication, it was copied illegally and republished in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/12/21/pzena-investment-management-pzn-downgraded-by-zacks-investment-research.html.

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.

Receive News & Ratings for Pzena Investment Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pzena Investment Management and related companies with MarketBeat.com's FREE daily email newsletter.