Pzena Investment Management (PZN) Raised to “Hold” at ValuEngine

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Pzena Investment Management (NYSE:PZN) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Zacks Investment Research lowered Pzena Investment Management from a “hold” rating to a “strong sell” rating in a research report on Sunday, July 15th.

Shares of PZN stock opened at $10.23 on Friday. The stock has a market capitalization of $702.13 million, a PE ratio of 16.24 and a beta of 1.43. Pzena Investment Management has a 1-year low of $8.61 and a 1-year high of $13.15.

Pzena Investment Management (NYSE:PZN) last issued its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. Pzena Investment Management had a return on equity of 16.27% and a net margin of 6.54%. The company had revenue of $39.58 million during the quarter, compared to analysts’ expectations of $38.26 million. Sell-side analysts expect that Pzena Investment Management will post 0.82 EPS for the current year.

Several institutional investors have recently made changes to their positions in PZN. Meeder Asset Management Inc. boosted its position in shares of Pzena Investment Management by 228.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 11,370 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 7,907 shares in the last quarter. Hartford Investment Management Co. bought a new stake in shares of Pzena Investment Management during the 2nd quarter valued at about $202,000. First Quadrant L P CA bought a new stake in shares of Pzena Investment Management during the 2nd quarter valued at about $213,000. SG Americas Securities LLC bought a new stake in shares of Pzena Investment Management during the 3rd quarter valued at about $280,000. Finally, LSV Asset Management boosted its position in shares of Pzena Investment Management by 77.6% during the 3rd quarter. LSV Asset Management now owns 41,200 shares of the asset manager’s stock valued at $393,000 after purchasing an additional 18,000 shares in the last quarter. Institutional investors own 17.44% of the company’s stock.

About Pzena Investment Management

Pzena Investment Management, Inc is a publicly owned investment manager. The firm manages equity mutual funds for its clients. It invests in the public equity markets. Pzena Investment Management, Inc was founded in 2007 and is based in New York City with additional offices in Melbourne, Australia and London, United Kingdom.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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