Manning and Napier (NYSE:MN) Upgraded to Hold at ValuEngine

Manning and Napier (NYSE:MN) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a note issued to investors on Monday, February 4th.

Separately, Zacks Investment Research lowered Manning and Napier from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 30th.

Shares of MN stock traded up $0.12 during trading hours on Monday, hitting $2.27. The company had a trading volume of 93,845 shares, compared to its average volume of 65,664. Manning and Napier has a 12 month low of $1.65 and a 12 month high of $3.85. The firm has a market cap of $32.97 million, a P/E ratio of 10.32 and a beta of 1.41.

Manning and Napier (NYSE:MN) last released its quarterly earnings data on Tuesday, February 5th. The asset manager reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $37.44 million during the quarter, compared to the consensus estimate of $38.21 million. Manning and Napier had a net margin of 1.98% and a return on equity of 12.25%. On average, research analysts expect that Manning and Napier will post 0.17 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ancora Advisors LLC lifted its stake in shares of Manning and Napier by 63.1% in the 4th quarter. Ancora Advisors LLC now owns 652,355 shares of the asset manager’s stock valued at $1,148,000 after purchasing an additional 252,355 shares during the period. Virginia National Bank acquired a new stake in Manning and Napier during the 3rd quarter worth $1,192,000. Karpus Management Inc. acquired a new stake in Manning and Napier during the 4th quarter worth $449,000. Bridgeway Capital Management Inc. raised its stake in Manning and Napier by 91.7% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 219,500 shares of the asset manager’s stock worth $648,000 after buying an additional 105,000 shares during the period. Finally, Millennium Management LLC raised its stake in Manning and Napier by 37.4% during the 2nd quarter. Millennium Management LLC now owns 217,117 shares of the asset manager’s stock worth $673,000 after buying an additional 59,067 shares during the period. Hedge funds and other institutional investors own 46.71% 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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