Menta Capital LLC Acquires 65,013 Shares of Manning & Napier, Inc. (MN)

Menta Capital LLC boosted its position in Manning & Napier, Inc. (NYSE:MN) by 52.9% during the first quarter, Holdings Channel reports. The firm owned 188,010 shares of the asset manager’s stock after buying an additional 65,013 shares during the period. Menta Capital LLC’s holdings in Manning & Napier were worth $1,072,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MN. Brandes Investment Partners LP increased its position in Manning & Napier by 68.3% in the first quarter. Brandes Investment Partners LP now owns 17,505 shares of the asset manager’s stock worth $100,000 after buying an additional 7,105 shares during the period. Oxford Asset Management purchased a new position in Manning & Napier during the first quarter worth about $102,000. Prudential Financial Inc. increased its position in Manning & Napier by 9.2% in the first quarter. Prudential Financial Inc. now owns 22,663 shares of the asset manager’s stock worth $129,000 after buying an additional 1,917 shares during the period. Teachers Advisors LLC increased its position in shares of Manning & Napier by 14.3% in the fourth quarter. Teachers Advisors LLC now owns 26,402 shares of the asset manager’s stock valued at $199,000 after buying an additional 3,312 shares during the last quarter. Finally, Hancock Holding Co. increased its position in shares of Manning & Napier by 70.8% in the first quarter. Hancock Holding Co. now owns 28,947 shares of the asset manager’s stock valued at $165,000 after buying an additional 11,995 shares during the last quarter. Institutional investors and hedge funds own 70.25% of the company’s stock.

Institutional Ownership by Quarter for Manning & Napier (NYSE:MN)

Shares of Manning & Napier, Inc. (NYSE:MN) traded down 4.71% during trading on Tuesday, hitting $4.05. The stock had a trading volume of 90,613 shares. The company has a market cap of $60.96 million, a P/E ratio of 6.89 and a beta of 1.39. The stock has a 50-day moving average price of $4.82 and a 200 day moving average price of $6.17. Manning & Napier, Inc. has a 12 month low of $4.00 and a 12 month high of $10.34.

Manning & Napier (NYSE:MN) last announced its earnings results on Wednesday, May 3rd. The asset manager reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by $0.02. Manning & Napier had a net margin of 3.57% and a return on equity of 37.47%. The business had revenue of $55.50 million for the quarter, compared to analyst estimates of $54.55 million. During the same period in the prior year, the company earned $0.18 earnings per share. The company’s quarterly revenue was down 10.5% on a year-over-year basis. Equities analysts expect that Manning & Napier, Inc. will post $0.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Friday, July 14th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 7.53%. The ex-dividend date of this dividend is Wednesday, July 12th. Manning & Napier’s dividend payout ratio is currently 55.17%.

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MN has been the subject of several analyst reports. Zacks Investment Research downgraded Manning & Napier from a “hold” rating to a “sell” rating in a report on Tuesday, April 4th. ValuEngine upgraded Manning & Napier from a “hold” rating to a “buy” rating in a report on Saturday, May 20th. Finally, Keefe, Bruyette & Woods restated a “sell” rating and set a $6.00 price target on shares of Manning & Napier in a report on Monday, April 10th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $6.25.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MN”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding MN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manning & Napier, Inc. (NYSE:MN).

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