Manning & Napier (MN) Rating Lowered to Sell at Zacks Investment Research

Manning & Napier (NYSE:MN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

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. “

Several other brokerages have also weighed in on MN. Keefe, Bruyette & Woods restated a “hold” rating and issued a $4.00 price objective on shares of Manning & Napier in a report on Friday, November 10th. ValuEngine raised Manning & Napier from a “hold” rating to a “buy” rating in a research report on Friday, September 1st.

Shares of Manning & Napier (NYSE:MN) traded down $0.03 during trading on Wednesday, hitting $3.72. The stock had a trading volume of 53,810 shares, compared to its average volume of 136,958. The firm has a market capitalization of $54.14, a price-to-earnings ratio of 7.06, a price-to-earnings-growth ratio of 1.01 and a beta of 1.52. Manning & Napier has a twelve month low of $3.00 and a twelve month high of $8.15.

Manning & Napier (NYSE:MN) last announced its quarterly earnings data on Wednesday, November 1st. The asset manager reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The firm had revenue of $48.84 million during the quarter, compared to analyst estimates of $47.52 million. Manning & Napier had a net margin of 3.30% and a return on equity of 30.20%. The company’s quarterly revenue was down 22.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. research analysts expect that Manning & Napier will post 0.44 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Manning & Napier by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 366,811 shares of the asset manager’s stock worth $1,449,000 after purchasing an additional 18,656 shares during the period. Menta Capital LLC raised its position in shares of Manning & Napier by 38.7% during the second quarter. Menta Capital LLC now owns 260,850 shares of the asset manager’s stock worth $1,135,000 after purchasing an additional 72,840 shares during the period. Geode Capital Management LLC raised its position in shares of Manning & Napier by 89.8% during the first quarter. Geode Capital Management LLC now owns 244,615 shares of the asset manager’s stock worth $1,393,000 after purchasing an additional 115,749 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of Manning & Napier by 58.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 216,480 shares of the asset manager’s stock worth $942,000 after purchasing an additional 79,900 shares during the period. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Manning & Napier during the second quarter worth $382,000. 51.56% of the stock is currently owned by institutional investors.

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Manning & Napier Company Profile

Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds, as well as a range of consultative services.

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