Pzena Investment Management Inc (PZN) Rating Increased to Buy at Zacks Investment Research

Pzena Investment Management Inc (NYSE:PZN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $12.00 price target on the asset manager’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 4.17% from the stock’s previous close.

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. “

Several other analysts have also recently weighed in on the stock. ValuEngine raised shares of Pzena Investment Management from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. BidaskClub cut shares of Pzena Investment Management from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd.

Pzena Investment Management (NYSE PZN) opened at 11.52 on Tuesday. The company has a market cap of $199.12 million, a price-to-earnings ratio of 17.59 and a beta of 1.65. Pzena Investment Management has a 1-year low of $7.11 and a 1-year high of $11.85. The company’s 50 day moving average is $10.13 and its 200 day moving average is $9.93.

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 Thomson Reuters’ consensus estimate of $0.12 by $0.03. The firm had revenue of $34.11 million for the quarter, compared to analysts’ expectations of $32.00 million. Pzena Investment Management had a net margin of 14.82% and a return on equity of 12.93%. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. Equities research analysts forecast that Pzena Investment Management will post $0.57 EPS for the current year.

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A number of large investors have recently modified their holdings of the stock. Schwab Charles Investment Management Inc. raised its holdings in Pzena Investment Management by 0.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 51,136 shares of the asset manager’s stock valued at $520,000 after acquiring an additional 266 shares in the last quarter. California State Teachers Retirement System raised its holdings in Pzena Investment Management by 1.7% in the second quarter. California State Teachers Retirement System now owns 29,955 shares of the asset manager’s stock valued at $304,000 after acquiring an additional 500 shares in the last quarter. Falcon Point Capital LLC raised its holdings in Pzena Investment Management by 0.4% in the second quarter. Falcon Point Capital LLC now owns 132,272 shares of the asset manager’s stock valued at $1,344,000 after acquiring an additional 590 shares in the last quarter. Rhumbline Advisers raised its holdings in Pzena Investment Management by 13.3% in the second quarter. Rhumbline Advisers now owns 20,379 shares of the asset manager’s stock valued at $207,000 after acquiring an additional 2,400 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Pzena Investment Management by 0.4% in the first quarter. Vanguard Group Inc. now owns 768,039 shares of the asset manager’s stock valued at $7,557,000 after acquiring an additional 3,265 shares in the last quarter. 17.37% of the stock is currently owned by hedge funds and other institutional investors.

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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