Manning & Napier Inc. (NYSE:MN) released its earnings results on Wednesday. The company reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by $0.01. During the same period in the previous year, the business earned $0.24 EPS. The firm had revenue of $67.54 million for the quarter, compared to analysts’ expectations of $65.81 million. The company’s revenue was down 22.3% on a year-over-year basis.
In other news, Director Geoffrey Rosenberger purchased 10,000 shares of the stock in a transaction dated Friday, May 13th. The shares were purchased at an average price of $9.02 per share, with a total value of $90,200.00. Following the transaction, the director now owns 1,900 shares in the company, valued at approximately $17,138. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Manning & Napier (NYSE:MN) traded up 0.12% on Wednesday, reaching $8.49. 212,287 shares of the company’s stock were exchanged. The stock has a market cap of $127.62 million and a price-to-earnings ratio of 10.35. The firm has a 50 day moving average of $9.09 and a 200-day moving average of $8.20. Manning & Napier has a one year low of $5.60 and a one year high of $11.40.
Several equities research analysts have recently issued reports on MN shares. Zacks Investment Research upgraded shares of Manning & Napier from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a report on Thursday, April 14th. Sandler O’Neill raised their target price on shares of Manning & Napier from $7.50 to $8.00 in a report on Tuesday, April 12th. Finally, Credit Suisse Group AG started coverage on shares of Manning & Napier in a report on Thursday, July 14th. They issued a “neutral” rating and a $9.00 target price for the company. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $8.04.
Manning & Napier, Inc (Manning & Napier) is an independent investment management firm that provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds, as well as a range of consultative services. The Company offers equity, fixed income and alternative strategies, as well as a range of blended asset portfolios, such as life cycle funds.
