Zacks Investment Research Lowers Pzena Investment Management Inc (PZN) to Hold

Pzena Investment Management Inc (NYSE:PZN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Pzena Investment Management, LLC, which will become the company’s operating company upon the consummation of the offering, is a premier value-oriented investment management firm with a record of investment excellence and exceptional client service. “

Several other brokerages have also recently issued reports on PZN. ValuEngine upgraded shares of Pzena Investment Management from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. BidaskClub upgraded shares of Pzena Investment Management from a “sell” rating to a “hold” rating in a report on Wednesday, August 9th.

Shares of Pzena Investment Management (NYSE:PZN) opened at 10.96 on Wednesday. The firm has a market capitalization of $189.44 million, a P/E ratio of 16.73 and a beta of 1.65. The firm has a 50-day moving average of $10.09 and a 200 day moving average of $9.92. Pzena Investment Management has a 52 week low of $7.11 and a 52 week high of $11.85.

Pzena Investment Management (NYSE:PZN) last posted its quarterly earnings results on Tuesday, July 18th. The asset manager reported $0.15 EPS for the quarter, topping the 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 company had revenue of $34.11 million during the quarter, compared to analysts’ expectations of $32.00 million. The business’s revenue for the quarter was up 29.0% compared to the same quarter last year. On average, equities research analysts expect that Pzena Investment Management will post $0.57 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. Schwab Charles Investment Management Inc. boosted its holdings in shares of Pzena Investment Management by 0.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 51,136 shares of the asset manager’s stock valued at $520,000 after buying an additional 266 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of Pzena Investment Management by 1.7% in the 2nd quarter. California State Teachers Retirement System now owns 29,955 shares of the asset manager’s stock valued at $304,000 after buying an additional 500 shares in the last quarter. Falcon Point Capital LLC boosted its holdings in shares of Pzena Investment Management by 0.4% in the 2nd quarter. Falcon Point Capital LLC now owns 132,272 shares of the asset manager’s stock valued at $1,344,000 after buying an additional 590 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Pzena Investment Management by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 20,379 shares of the asset manager’s stock valued at $207,000 after buying an additional 2,400 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Pzena Investment Management by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 768,039 shares of the asset manager’s stock valued at $7,557,000 after buying an additional 3,265 shares in the last quarter. Institutional investors and hedge funds own 17.37% of the company’s stock.

Pzena Investment Management Company Profile

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.

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