Pzena Investment Management, Inc. (NYSE:PZN)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.00 and traded as high as $8.04. Pzena Investment Management shares last traded at $8.01, with a volume of 2,714 shares traded.
Several research firms recently issued reports on PZN. Zacks Investment Research upgraded FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 price target on the stock in a report on Tuesday, June 25th. ValuEngine raised WPP from a “sell” rating to a “hold” rating in a research report on Wednesday, June 19th.
The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $8.42. The company has a market cap of $548.99 million, a PE ratio of 10.60 and a beta of 1.18.
Pzena Investment Management (NYSE:PZN) last posted its quarterly earnings results on Wednesday, July 17th. The asset manager reported $0.18 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.18. Pzena Investment Management had a return on equity of 14.62% and a net margin of 8.77%. The firm had revenue of $37.84 million during the quarter, compared to analyst estimates of $39.13 million.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, July 30th will be given a $0.03 dividend. The ex-dividend date is Monday, July 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 1.44%. Pzena Investment Management’s dividend payout ratio is currently 15.58%.
Institutional investors and hedge funds have recently modified their holdings of the company. Stone Ridge Asset Management LLC raised its holdings in Pzena Investment Management by 5.8% in the 4th quarter. Stone Ridge Asset Management LLC now owns 57,350 shares of the asset manager’s stock worth $496,000 after acquiring an additional 3,136 shares during the last quarter. Prudential Financial Inc. purchased a new position in Pzena Investment Management in the 4th quarter worth approximately $116,000. Hancock Whitney Corp purchased a new position in Pzena Investment Management in the 4th quarter worth approximately $163,000. First Quadrant L P CA raised its holdings in Pzena Investment Management by 65.8% in the 1st quarter. First Quadrant L P CA now owns 125,718 shares of the asset manager’s stock worth $1,017,000 after acquiring an additional 49,899 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in Pzena Investment Management by 41.7% in the 4th quarter. Rhumbline Advisers now owns 25,759 shares of the asset manager’s stock worth $223,000 after acquiring an additional 7,575 shares during the last quarter. 16.46% of the stock is currently owned by hedge funds and other institutional investors.
About Pzena Investment Management (NYSE:PZN)
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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