BidaskClub Upgrades Pzena Investment Management Inc (PZN) to Hold

BidaskClub upgraded shares of Pzena Investment Management Inc (NYSE:PZN) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

Other equities research analysts have also issued reports about the company. Zacks Investment Research lowered Pzena Investment Management from a buy rating to a hold rating in a research report on Wednesday, April 12th. ValuEngine upgraded Pzena Investment Management from a hold rating to a buy rating in a research report on Wednesday, July 19th.

Shares of Pzena Investment Management (NYSE:PZN) traded down 2.13% during mid-day trading on Wednesday, reaching $10.12. The company had a trading volume of 27,119 shares. The firm has a market capitalization of $174.92 million, a PE ratio of 15.33 and a beta of 1.68. Pzena Investment Management has a 12-month low of $7.11 and a 12-month high of $11.85. The stock has a 50 day moving average price of $10.46 and a 200 day moving average price of $9.85.

Pzena Investment Management (NYSE:PZN) last posted its earnings results on Tuesday, July 18th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 million. Pzena Investment Management’s revenue for the quarter was up 29.0% compared to the same quarter last year. On average, equities analysts forecast that Pzena Investment Management will post $0.58 earnings per share for the current year.

WARNING: This story was posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this story on another domain, it was stolen and reposted in violation of United States and international trademark and copyright laws. The original version of this story can be accessed at https://www.com-unik.info/2017/08/13/bidaskclub-upgrades-pzena-investment-management-inc-pzn-to-hold.html.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Shareholders of record on Friday, July 28th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Wednesday, July 26th. This represents a $0.12 annualized dividend and a yield of 1.19%. Pzena Investment Management’s payout ratio is currently 18.18%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. increased its position in Pzena Investment Management by 97.2% in the first quarter. Hillsdale Investment Management Inc. now owns 91,300 shares of the asset manager’s stock valued at $899,000 after buying an additional 45,000 shares during the last quarter. Acrospire Investment Management LLC increased its position in Pzena Investment Management by 16.3% in the first quarter. Acrospire Investment Management LLC now owns 17,122 shares of the asset manager’s stock valued at $168,000 after buying an additional 2,398 shares during the last quarter. Swiss National Bank increased its position in Pzena Investment Management by 35.5% in the first 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 during the last quarter. Bank of New York Mellon Corp increased its position in Pzena Investment Management by 25.5% in the first quarter. Bank of New York Mellon Corp now owns 96,849 shares of the asset manager’s stock valued at $952,000 after buying an additional 19,703 shares during the last quarter. Finally, Falcon Point Capital LLC increased its position in Pzena Investment Management by 2.8% in the first quarter. Falcon Point Capital LLC now owns 131,682 shares of the asset manager’s stock valued at $1,296,000 after buying an additional 3,571 shares during the last quarter. Institutional investors own 16.80% 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.

What are top analysts saying about Pzena Investment Management Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Pzena Investment Management Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit