Manning and Napier (MN) Lowered to Sell at Zacks Investment Research

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

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. “

Separately, Keefe, Bruyette & Woods restated a “hold” rating and issued a $4.00 price objective on shares of Manning and Napier in a research report on Friday, November 10th.

Manning and Napier (NYSE MN) opened at $3.15 on Friday. The firm has a market capitalization of $46.62, a price-to-earnings ratio of 7.95, a PEG ratio of 1.41 and a beta of 1.50. Manning and Napier has a 12 month low of $3.00 and a 12 month high of $6.70.

Manning and Napier (NYSE:MN) last posted its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.05). The company had revenue of $45.70 million during the quarter, compared to analyst estimates of $46.50 million. Manning and Napier had a net margin of 1.78% and a return on equity of 23.07%. The business’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period last year, the company earned $0.13 EPS. equities research analysts anticipate that Manning and Napier will post 0.28 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MN. Virtu KCG Holdings LLC bought a new stake in shares of Manning and Napier in the 2nd quarter valued at $245,000. Dimensional Fund Advisors LP increased its position in shares of Manning and Napier by 23.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 348,155 shares of the asset manager’s stock valued at $1,514,000 after buying an additional 65,630 shares in the last quarter. OxFORD Asset Management LLP increased its position in shares of Manning and Napier by 289.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 69,767 shares of the asset manager’s stock valued at $303,000 after buying an additional 51,867 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in shares of Manning and Napier in the 2nd quarter valued at $382,000. Finally, Macquarie Group Ltd. bought a new stake in shares of Manning and Napier in the 3rd quarter valued at $153,000. Institutional investors and hedge funds own 53.87% of the company’s stock.

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Manning and Napier Company Profile

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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