Manning and Napier (NYSE:MN) Lowered to “Strong Sell” at ValuEngine

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ValuEngine cut shares of Manning and Napier (NYSE:MN) from a sell rating to a strong sell rating in a research note released on Friday morning, ValuEngine reports.

MN stock opened at $1.56 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 5.70 and a quick ratio of 5.70. Manning and Napier has a 52-week low of $1.54 and a 52-week high of $3.15. The company’s 50-day moving average price is $1.77. The company has a market capitalization of $24.31 million, a PE ratio of 7.09 and a beta of 1.23.

Manning and Napier (NYSE:MN) last released its quarterly earnings results on Tuesday, April 30th. The asset manager reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). Manning and Napier had a net margin of 1.65% and a return on equity of 9.66%. The firm had revenue of $34.80 million for the quarter, compared to the consensus estimate of $35.07 million. On average, equities analysts forecast that Manning and Napier will post 0.17 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Monday, July 15th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date is Friday, July 12th. Manning and Napier’s dividend payout ratio is currently 36.36%.

In other news, Director Ebrahim Busheri sold 18,526 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $3.05, for a total transaction of $56,504.30. Following the completion of the transaction, the director now owns 92,347 shares of the company’s stock, valued at $281,658.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.50% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Alpine Global Management LLC acquired a new position in shares of Manning and Napier during the first quarter valued at about $30,000. Bank of New York Mellon Corp raised its position in Manning and Napier by 133.1% in the fourth quarter. Bank of New York Mellon Corp now owns 30,723 shares of the asset manager’s stock worth $54,000 after purchasing an additional 17,545 shares in the last quarter. Karpus Management Inc. acquired a new position in Manning and Napier in the fourth quarter worth about $449,000. Finally, Ancora Advisors LLC raised its position in Manning and Napier by 63.1% in the fourth quarter. Ancora Advisors LLC now owns 652,355 shares of the asset manager’s stock worth $1,148,000 after purchasing an additional 252,355 shares in the last quarter. 47.75% of the stock is owned by institutional investors and hedge funds.

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

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