Manning and Napier (NYSE:MN) Raised to “Hold” at Zacks Investment Research

Manning and Napier (NYSE:MN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday, Zacks.com reports.

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, ValuEngine upgraded shares of Manning and Napier from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st.

MN stock opened at $1.68 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.84 and a quick ratio of 4.84. The company has a 50 day moving average price of $1.79 and a 200 day moving average price of $1.84. Manning and Napier has a fifty-two week low of $1.45 and a fifty-two week high of $2.88. The stock has a market capitalization of $27.18 million, a PE ratio of 7.64 and a beta of 1.09.

Manning and Napier (NYSE:MN) last posted its quarterly earnings data on Thursday, October 31st. The asset manager reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. Manning and Napier had a net margin of 1.59% and a return on equity of 8.04%. The firm had revenue of $34.18 million during the quarter, compared to analysts’ expectations of $34.34 million. As a group, equities analysts expect that Manning and Napier will post 0.16 earnings per share for the current fiscal year.

In other Manning and Napier news, Director Edward J. Pettinella bought 26,754 shares of the company’s stock in a transaction on Friday, August 30th. The stock was bought at an average price of $1.86 per share, for a total transaction of $49,762.44. Following the transaction, the director now owns 473,683 shares of the company’s stock, valued at approximately $881,050.38. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Edward J. Pettinella bought 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were acquired at an average price of $1.75 per share, with a total value of $43,750.00. Following the transaction, the director now directly owns 280,273 shares in the company, valued at approximately $490,477.75. The disclosure for this purchase can be found here. Insiders have acquired a total of 64,048 shares of company stock valued at $114,472 in the last quarter. Corporate insiders own 6.50% of the company’s stock.

An institutional investor recently raised its position in Manning and Napier stock. Renaissance Technologies LLC raised its holdings in shares of Manning and Napier Inc (NYSE:MN) by 1.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,217,699 shares of the asset manager’s stock after acquiring an additional 13,200 shares during the period. Renaissance Technologies LLC owned approximately 7.76% of Manning and Napier worth $2,131,000 at the end of the most recent reporting period. Institutional investors own 45.60% of the company’s stock.

Manning and Napier Company Profile

Manning & Napier, Inc is publicly owned investment manager. It provides its services to net worth individuals and institutions, including 401(k) plans, pension plans, taft-hartley plans, endowments and foundations. The firm manages separate client-focused equity and fixed income portfolios. It invests in the public equity and fixed income markets of the United States.

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