Pzena Investment Management Inc (NYSE:PZN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

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. “

A number of other equities research analysts have also weighed in on the stock. ValuEngine lowered shares of Pzena Investment Management from a “buy” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised shares of Pzena Investment Management from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th.

Shares of Pzena Investment Management (PZN) opened at 10.96 on Wednesday. Pzena Investment Management has a 1-year low of $7.11 and a 1-year high of $11.85. The company has a market capitalization of $189.44 million, a PE ratio of 16.73 and a beta of 1.65. The stock’s 50 day moving average is $10.09 and its 200 day moving average is $9.92.

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

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A number of institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new stake in Pzena Investment Management during the 2nd quarter worth approximately $173,000. California State Teachers Retirement System boosted its stake in shares of Pzena Investment Management by 1.7% in the 2nd quarter. California State Teachers Retirement System now owns 29,955 shares of the asset manager’s stock valued at $304,000 after purchasing an additional 500 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of 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. State Street Corp boosted its stake in shares of Pzena Investment Management by 5.4% in the 2nd quarter. State Street Corp now owns 230,170 shares of the asset manager’s stock valued at $2,338,000 after purchasing an additional 11,855 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its stake in shares of Pzena Investment Management by 2.6% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 1,686,280 shares of the asset manager’s stock valued at $17,133,000 after purchasing an additional 43,281 shares during the last quarter. 17.37% of the stock is currently owned by hedge funds and other institutional investors.

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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