Manning & Napier, Inc. (NYSE:MN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 11th.
According to Zacks, “Manning & Napier, Inc. operates as an investment advisor engaged in managing corporate and union pension and annuity funds, endowment funds, foundations, profit sharing plans and benefit plans. It offers equity and fixed income portfolios and a range of blended asset portfolios. The Company offers investment solutions through separately managed accounts, mutual funds, and collective investment trust funds. Manning & Napier, Inc. is headquartered in Fairport, New York. “
Several other research firms also recently weighed in on MN. Keefe, Bruyette & Woods reissued a “sell” rating and issued a $6.00 target price on shares of Manning & Napier in a research report on Monday, April 10th. ValuEngine downgraded shares of Manning & Napier from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Manning & Napier presently has an average rating of “Hold” and an average price target of $6.08.
Shares of Manning & Napier (NYSE MN) traded up 1.32% during midday trading on Tuesday, hitting $3.85. The stock had a trading volume of 96,974 shares. The stock has a market cap of $57.95 million, a PE ratio of 7.43 and a beta of 1.40. The firm has a 50 day moving average price of $4.15 and a 200-day moving average price of $5.36. Manning & Napier has a 52-week low of $3.80 and a 52-week high of $8.26.
Manning & Napier (NYSE:MN) last announced its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.12 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.12. The company had revenue of $51.53 million for the quarter, compared to analysts’ expectations of $50.22 million. Manning & Napier had a net margin of 3.41% and a return on equity of 34.34%. The business’s revenue was down 20.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.17 EPS. Equities analysts predict that Manning & Napier will post $0.46 EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Brandes Investment Partners LP boosted its stake in Manning & Napier by 68.3% in the first quarter. Brandes Investment Partners LP now owns 17,505 shares of the asset manager’s stock worth $100,000 after buying an additional 7,105 shares during the period. Oxford Asset Management acquired a new stake in Manning & Napier during the first quarter worth about $102,000. Prudential Financial Inc. boosted its stake in Manning & Napier by 9.2% in the first quarter. Prudential Financial Inc. now owns 22,663 shares of the asset manager’s stock worth $129,000 after buying an additional 1,917 shares during the period. Hancock Holding Co. raised its position in Manning & Napier by 70.8% in the first quarter. Hancock Holding Co. now owns 28,947 shares of the asset manager’s stock worth $165,000 after buying an additional 11,995 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new position in Manning & Napier during the second quarter worth approximately $180,000. Hedge funds and other institutional investors own 70.90% of the company’s stock.
About Manning & Napier
Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It 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.
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