Manning & Napier (NYSE:MN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

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. “

Other equities analysts also recently issued reports about the stock. ValuEngine raised shares of Manning & Napier from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $4.00 price objective on shares of Manning & Napier in a research report on Friday, November 10th.

Manning & Napier (MN) traded down $0.03 during trading hours on Wednesday, hitting $3.72. 53,810 shares of the stock were exchanged, compared to its average volume of 136,958. The company has a market cap of $54.14, a P/E ratio of 7.06, a price-to-earnings-growth ratio of 1.01 and a beta of 1.52. Manning & Napier has a one year low of $3.00 and a one year high of $8.15.

Manning & Napier (NYSE:MN) last announced its quarterly earnings results on Wednesday, November 1st. The asset manager reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.01). Manning & Napier had a net margin of 3.30% and a return on equity of 30.20%. The firm had revenue of $48.84 million for the quarter, compared to the consensus estimate of $47.52 million. During the same period in the prior year, the business earned $0.16 earnings per share. The company’s revenue for the quarter was down 22.9% on a year-over-year basis. equities research analysts anticipate that Manning & Napier will post 0.44 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hancock Holding Co. increased its position in Manning & Napier by 26.9% in the 2nd quarter. Hancock Holding Co. now owns 36,742 shares of the asset manager’s stock valued at $160,000 after acquiring an additional 7,795 shares in the last quarter. Brandes Investment Partners LP increased its position in Manning & Napier by 81.8% in the 3rd quarter. Brandes Investment Partners LP now owns 31,829 shares of the asset manager’s stock valued at $126,000 after acquiring an additional 14,324 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Manning & Napier by 5.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 366,811 shares of the asset manager’s stock valued at $1,449,000 after acquiring an additional 18,656 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Manning & Napier by 637.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,261 shares of the asset manager’s stock worth $155,000 after buying an additional 34,804 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in shares of Manning & Napier during the 3rd quarter worth approximately $153,000. Hedge funds and other institutional investors own 51.56% of the company’s stock.

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About Manning & Napier

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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