Manning and Napier (NYSE:MN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday. The firm presently has a $4.25 price objective on the asset manager’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.33% from the stock’s previous close.
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. “
Separately, Keefe, Bruyette & Woods restated a “hold” rating and issued a $4.00 price target on shares of Manning and Napier in a research report on Friday, November 10th.
Manning and Napier (NYSE:MN) traded up $0.05 during trading hours on Wednesday, reaching $3.75. 129,600 shares of the company’s stock were exchanged, compared to its average volume of 123,667. The firm has a market capitalization of $56.40, a price-to-earnings ratio of 16.30, a PEG ratio of 1.42 and a beta of 1.53. Manning and Napier has a 52-week low of $3.00 and a 52-week high of $8.15.
Manning and Napier (NYSE:MN) last released its quarterly earnings results on Wednesday, November 1st. The asset manager reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.01). The firm had revenue of $48.84 million during the quarter, compared to analyst estimates of $47.52 million. Manning and Napier had a net margin of 3.30% and a return on equity of 30.20%. Manning and Napier’s quarterly revenue was down 22.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.16 earnings per share. equities research analysts anticipate that Manning and Napier will post 0.44 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in MN. Menta Capital LLC lifted its position in shares of Manning and Napier by 38.7% during the second quarter. Menta Capital LLC now owns 260,850 shares of the asset manager’s stock worth $1,135,000 after purchasing an additional 72,840 shares in the last quarter. Hancock Holding Co. lifted its position in shares of Manning and Napier by 26.9% during the second quarter. Hancock Holding Co. now owns 36,742 shares of the asset manager’s stock worth $160,000 after purchasing an additional 7,795 shares in the last quarter. Virtu KCG Holdings LLC acquired a new position in shares of Manning and Napier during the second quarter worth approximately $245,000. Dimensional Fund Advisors LP lifted its position in shares of Manning and Napier by 23.2% during the second quarter. Dimensional Fund Advisors LP now owns 348,155 shares of the asset manager’s stock worth $1,514,000 after purchasing an additional 65,630 shares in the last quarter. Finally, OxFORD Asset Management LLP lifted its position in shares of Manning and Napier by 289.8% during the second quarter. OxFORD Asset Management LLP now owns 69,767 shares of the asset manager’s stock worth $303,000 after purchasing an additional 51,867 shares in the last quarter. Hedge funds and other institutional investors own 51.19% of the company’s stock.
Manning and Napier Company Profile
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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