Manning and Napier (NYSE:MN) Rating Lowered to Sell at Zacks Investment Research

Manning and Napier (NYSE:MN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, Zacks.com reports.

According to Zacks, “Manning & Napier, Inc. operates as an investment advisor engaged in managing corporate and union pension and annuity funds, endowment funds, foundations, profit sharing plans and benefit plans. It offers equity and fixed income portfolios and a range of blended asset portfolios. The Company offers investment solutions through separately managed accounts, mutual funds, and collective investment trust funds. Manning & Napier, Inc. is headquartered in Fairport, New York. “

Separately, ValuEngine upgraded Manning and Napier from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st.

MN stock traded down $0.06 during trading on Friday, hitting $1.76. 91,104 shares of the company traded hands, compared to its average volume of 52,718. The firm has a market capitalization of $28.43 million, a PE ratio of 8.00 and a beta of 1.09. Manning and Napier has a 1 year low of $1.45 and a 1 year high of $2.88. The company has a 50-day moving average of $1.81 and a 200-day moving average of $1.86. The company has a debt-to-equity ratio of 0.13, a quick ratio of 4.84 and a current ratio of 4.84.

Manning and Napier (NYSE:MN) last issued its earnings results on Thursday, October 31st. The asset manager reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $34.18 million during the quarter, compared to analysts’ expectations of $34.34 million. Manning and Napier had a return on equity of 8.04% and a net margin of 1.59%. Sell-side analysts expect that Manning and Napier will post 0.16 EPS for the current year.

In other Manning and Napier news, Director Edward J. Pettinella acquired 26,754 shares of the company’s stock in a transaction on Friday, August 30th. The stock was acquired at an average price of $1.86 per share, for a total transaction of $49,762.44. Following the acquisition, the director now owns 473,683 shares in the company, valued at approximately $881,050.38. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Edward J. Pettinella acquired 25,000 shares of the company’s stock in a transaction on Monday, August 26th. The stock was acquired at an average price of $1.75 per share, with a total value of $43,750.00. Following the acquisition, the director now owns 280,273 shares in the company, valued at approximately $490,477.75. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 65,448 shares of company stock valued at $116,754. Company insiders own 6.50% of the company’s stock.

An institutional investor recently raised its position in Manning and Napier stock. Renaissance Technologies LLC increased its position in Manning and Napier Inc (NYSE:MN) by 1.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,217,699 shares of the asset manager’s stock after purchasing an additional 13,200 shares during the quarter. Renaissance Technologies LLC owned approximately 7.76% of Manning and Napier worth $2,131,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 45.62% of the company’s stock.

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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