Pzena Investment Management Inc (PZN) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Pzena Investment Management Inc (NYSE:PZN) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $12.00 price objective on the asset manager’s stock.

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. “

Several other analysts also recently commented on the stock. ValuEngine downgraded shares of Pzena Investment Management from a buy rating to a hold rating in a research report on Friday, September 1st. BidaskClub upgraded shares of Pzena Investment Management from a sell rating to a hold rating in a research report on Wednesday, August 9th.

Shares of Pzena Investment Management (NYSE PZN) traded up 2.74% on Tuesday, reaching $11.26. 14,514 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $10.09 and a 200 day moving average of $9.92. The firm has a market capitalization of $194.63 million, a P/E ratio of 17.19 and a beta of 1.65. Pzena Investment Management has a one year low of $7.11 and a one year high of $11.85.

Pzena Investment Management (NYSE:PZN) last released its quarterly earnings results on Tuesday, July 18th. The asset manager reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Pzena Investment Management had a net margin of 14.82% and a return on equity of 12.93%. The firm had revenue of $34.11 million during the quarter, compared to the consensus estimate of $32.00 million. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. On average, equities research analysts predict that Pzena Investment Management will post $0.57 EPS for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC raised its position in Pzena Investment Management by 61.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,296 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 3,908 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in Pzena Investment Management in the 1st quarter valued at $106,000. Oxford Asset Management purchased a new stake in Pzena Investment Management in the 1st quarter valued at $126,000. Susquehanna International Group LLP purchased a new stake in Pzena Investment Management in the 2nd quarter valued at $173,000. Finally, The Manufacturers Life Insurance Company raised its position in Pzena Investment Management by 23.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,818 shares of the asset manager’s stock valued at $191,000 after purchasing an additional 3,603 shares during the last quarter. Hedge funds and other institutional investors own 17.37% of the company’s stock.

Pzena Investment Management Company Profile

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 co

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. “

Several other analysts also recently commented on the stock. ValuEngine downgraded shares of Pzena Investment Management from a buy rating to a hold rating in a research report on Friday, September 1st. BidaskClub upgraded shares of Pzena Investment Management from a sell rating to a hold rating in a research report on Wednesday, August 9th.

Shares of Pzena Investment Management (NYSE PZN) traded up 2.74% on Tuesday, reaching $11.26. 14,514 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $10.09 and a 200 day moving average of $9.92. The firm has a market capitalization of $194.63 million, a P/E ratio of 17.19 and a beta of 1.65. Pzena Investment Management has a one year low of $7.11 and a one year high of $11.85.

Pzena Investment Management (NYSE:PZN) last released its quarterly earnings results on Tuesday, July 18th. The asset manager reported $0.15 EPS for the quarter, beating the consensus estimate of $0.12 by $0.03. Pzena Investment Management had a net margin of 14.82% and a return on equity of 12.93%. The firm had revenue of $34.11 million during the quarter, compared to the consensus estimate of $32.00 million. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. On average, equities research analysts predict that Pzena Investment Management will post $0.57 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This story was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://ledgergazette.com/2017/10/11/pzena-investment-management-inc-pzn-upgraded-by-zacks-investment-research-to-buy.html.

Hedge funds have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC raised its position in Pzena Investment Management by 61.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 10,296 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 3,908 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in Pzena Investment Management in the 1st quarter valued at $106,000. Oxford Asset Management purchased a new stake in Pzena Investment Management in the 1st quarter valued at $126,000. Susquehanna International Group LLP purchased a new stake in Pzena Investment Management in the 2nd quarter valued at $173,000. Finally, The Manufacturers Life Insurance Company raised its position in Pzena Investment Management by 23.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,818 shares of the asset manager’s stock valued at $191,000 after purchasing an additional 3,603 shares during the last quarter. Hedge funds and other institutional investors own 17.37% of the company’s stock.

Pzena Investment Management Company Profile

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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