Teton Advisors Inc. decreased its position in shares of Pzena Investment Management Inc (NYSE:PZN) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 158,000 shares of the asset manager’s stock after selling 2,000 shares during the period. Teton Advisors Inc. owned 0.91% of Pzena Investment Management worth $1,605,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in PZN. O Shaughnessy Asset Management LLC raised its stake in Pzena Investment Management by 61.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,296 shares of the asset manager’s stock worth $101,000 after buying an additional 3,908 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in Pzena Investment Management during the first quarter worth $106,000. Oxford Asset Management purchased a new stake in Pzena Investment Management during the first quarter worth $126,000. Acrospire Investment Management LLC raised its stake in Pzena Investment Management by 16.3% in the first quarter. Acrospire Investment Management LLC now owns 17,122 shares of the asset manager’s stock worth $168,000 after buying an additional 2,398 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in Pzena Investment Management by 13.3% in the second quarter. Rhumbline Advisers now owns 20,379 shares of the asset manager’s stock worth $207,000 after buying an additional 2,400 shares in the last quarter. Institutional investors and hedge funds own 16.76% of the company’s stock.
Shares of Pzena Investment Management Inc (PZN) opened at 9.62 on Friday. The stock’s 50 day moving average is $10.50 and its 200-day moving average is $9.82. Pzena Investment Management Inc has a one year low of $7.11 and a one year high of $11.85. The stock has a market cap of $166.28 million, a P/E ratio of 14.69 and a beta of 1.68.
Pzena Investment Management (NYSE:PZN) last posted its quarterly earnings data on Tuesday, July 18th. The asset manager reported $0.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Pzena Investment Management had a net margin of 14.82% and a return on equity of 12.93%. The firm had revenue of $34.11 million for the quarter, compared to the consensus estimate of $32 million. The business’s revenue for the quarter was up 29.0% on a year-over-year basis. On average, equities analysts forecast that Pzena Investment Management Inc will post $0.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Friday, July 28th will be issued a dividend of $0.03 per share. The ex-dividend date is Wednesday, July 26th. This represents a $0.12 annualized dividend and a dividend yield of 1.25%. Pzena Investment Management’s dividend payout ratio (DPR) is currently 18.18%.
A number of analysts have weighed in on the stock. BidaskClub lowered shares of Pzena Investment Management from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research downgraded shares of Pzena Investment Management from a “buy” rating to a “sell” rating in a report on Wednesday, April 26th. Finally, ValuEngine raised shares of Pzena Investment Management from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th.
About Pzena Investment Management
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.
Want to see what other hedge funds are holding PZN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pzena Investment Management Inc (NYSE:PZN).
Receive News & Ratings for Pzena Investment Management Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pzena Investment Management Inc and related companies with MarketBeat.com's FREE daily email newsletter.
