Pzena Investment Management (NYSE:PZN) Trading Up 7.8%

Shares of Pzena Investment Management, Inc. (NYSE:PZN) were up 7.8% on Wednesday . The company traded as high as $9.20 and last traded at $9.07, approximately 102,278 shares changed hands during mid-day trading. An increase of 84% from the average daily volume of 55,590 shares. The stock had previously closed at $8.41.

A number of research analysts have recently weighed in on PZN shares. ValuEngine downgraded Pzena Investment Management from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th. Zacks Investment Research downgraded Pzena Investment Management from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th.

The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.75 and a current ratio of 2.75. The stock’s 50-day moving average is $8.05 and its 200 day moving average is $8.71. The firm has a market cap of $591.92 million, a P/E ratio of 12.78 and a beta of 1.19.

Pzena Investment Management (NYSE:PZN) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. Pzena Investment Management had a net margin of 8.77% and a return on equity of 14.67%. The business had revenue of $37.84 million during the quarter, compared to analysts’ expectations of $39.13 million.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, July 30th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Monday, July 29th. Pzena Investment Management’s dividend payout ratio is currently 15.58%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PZN. Royce & Associates LP increased its position in shares of Pzena Investment Management by 26.5% in the 1st quarter. Royce & Associates LP now owns 921,099 shares of the asset manager’s stock valued at $7,452,000 after buying an additional 192,847 shares in the last quarter. BlackRock Inc. increased its position in shares of Pzena Investment Management by 20.3% in the 2nd quarter. BlackRock Inc. now owns 1,096,573 shares of the asset manager’s stock valued at $9,420,000 after buying an additional 185,343 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Pzena Investment Management in the 2nd quarter valued at $1,379,000. Great Lakes Advisors LLC increased its position in shares of Pzena Investment Management by 64.7% in the 1st quarter. Great Lakes Advisors LLC now owns 189,225 shares of the asset manager’s stock valued at $1,531,000 after buying an additional 74,323 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. increased its position in shares of Pzena Investment Management by 3.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,781,489 shares of the asset manager’s stock valued at $14,412,000 after buying an additional 61,366 shares in the last quarter. Institutional investors and hedge funds own 17.34% of the company’s stock.

Pzena Investment Management Company Profile (NYSE:PZN)

Pzena Investment Management, Inc is a publicly owned investment manager. The firm manages equity mutual funds for its clients. It invests in the public equity markets. Pzena Investment Management, Inc was founded in 2007 and is based in New York City with additional offices in Melbourne, Australia and London, United Kingdom.

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