Pzena Investment Management (PZN) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Pzena Investment Management (NYSE:PZN) from a buy rating to a hold rating in a research note published on Saturday morning.

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. “

Pzena Investment Management (NYSE PZN) opened at $11.22 on Friday. Pzena Investment Management has a fifty-two week low of $8.25 and a fifty-two week high of $12.70. The company has a market cap of $785.46, a price-to-earnings ratio of 15.80 and a beta of 1.69.

Pzena Investment Management (NYSE:PZN) last posted its quarterly earnings results on Tuesday, October 17th. The asset manager reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. Pzena Investment Management had a net margin of 14.41% and a return on equity of 12.92%. The business had revenue of $36.23 million for the quarter, compared to analysts’ expectations of $35.00 million. The firm’s quarterly revenue was up 34.2% on a year-over-year basis. sell-side analysts forecast that Pzena Investment Management will post 0.6 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Epoch Investment Partners Inc. grew its holdings 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 valued at $15,245,000 after acquiring an additional 16,511 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 valued at $4,185,000 after acquiring an additional 11,181 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Pzena Investment Management by 196.0% during the 3rd quarter. Wells Fargo & Company MN now owns 51,020 shares of the asset manager’s stock valued at $556,000 after acquiring an additional 33,784 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Pzena Investment Management during the 3rd quarter valued at $160,000. Finally, Russell Investments Group Ltd. grew its holdings in shares of Pzena Investment Management by 14.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 339,160 shares of the asset manager’s stock valued at $3,693,000 after acquiring an additional 43,955 shares in the last quarter. Institutional investors and hedge funds own 17.69% of the company’s stock.

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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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