Pzena Investment Management Inc (NYSE:PZN) Lifted to “Buy” at ValuEngine
Pzena Investment Management Inc (NYSE:PZN) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Wednesday.
Separately, Zacks Investment Research cut shares of Pzena Investment Management from a “buy” rating to a “sell” rating in a research note on Wednesday, April 26th.
Shares of Pzena Investment Management (PZN) traded down 6.34% on Wednesday, hitting $10.20. 215,849 shares of the company traded hands. The stock’s 50-day moving average price is $9.71 and its 200-day moving average price is $9.90. Pzena Investment Management has a 12 month low of $7.11 and a 12 month high of $11.85. The company has a market capitalization of $177.03 million, a PE ratio of 16.94 and a beta of 1.68.
Pzena Investment Management (NYSE:PZN) last issued its quarterly earnings results on Tuesday, July 18th. The asset manager reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $34.11 million during the quarter, compared to analysts’ expectations of $32 million. Pzena Investment Management had a net margin of 14.75% and a return on equity of 12.70%. The business’s quarterly revenue was up 29.0% on a year-over-year basis. On average, equities analysts predict that Pzena Investment Management will post $0.52 earnings per share for the current year.
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Institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new position in shares of Pzena Investment Management during the fourth quarter worth about $1,495,000. I.G. Investment Management LTD. bought a new position in shares of Pzena Investment Management during the fourth quarter worth about $2,575,000. Price T Rowe Associates Inc. MD increased its position in shares of Pzena Investment Management by 0.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 360,500 shares of the asset manager’s stock worth $3,100,000 after buying an additional 2,500 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in shares of Pzena Investment Management by 20.8% in the third quarter. Deprince Race & Zollo Inc. now owns 339,102 shares of the asset manager’s stock worth $2,611,000 after buying an additional 58,278 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Pzena Investment Management by 15.0% in the second quarter. California State Teachers Retirement System now owns 30,655 shares of the asset manager’s stock worth $233,000 after buying an additional 3,999 shares in the last quarter. Institutional investors own 16.87% of the company’s stock.
About Pzena Investment Management
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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