Manning and Napier (MN) Rating Increased to Buy at Zacks Investment Research

Manning and Napier (NYSE:MN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage presently has a $4.50 target price on the asset manager’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 8.43% from the stock’s previous close.

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, Keefe, Bruyette & Woods restated a “hold” rating and issued a $4.00 price objective on shares of Manning and Napier in a report on Friday, November 10th.

Manning and Napier (NYSE MN) traded up $0.10 during mid-day trading on Tuesday, hitting $4.15. 110,189 shares of the stock traded hands, compared to its average volume of 98,907. Manning and Napier has a 1 year low of $3.00 and a 1 year high of $7.64. The stock has a market capitalization of $59.41, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52.

Manning and 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 analysts’ consensus estimates of $0.11 by ($0.01). Manning and Napier had a return on equity of 30.20% and a net margin of 3.30%. The firm had revenue of $48.84 million during the quarter, compared to analysts’ expectations of $47.52 million. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Manning and Napier’s revenue was down 22.9% on a year-over-year basis. equities research analysts anticipate that Manning and Napier will post 0.44 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. VNBTrust National Association purchased a new position in Manning and Napier in the 4th quarter worth approximately $1,476,000. Dimensional Fund Advisors LP raised its holdings in Manning and Napier by 5.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 366,811 shares of the asset manager’s stock worth $1,449,000 after acquiring an additional 18,656 shares during the last quarter. Menta Capital LLC raised its holdings in Manning and Napier by 38.7% in the 2nd quarter. Menta Capital LLC now owns 260,850 shares of the asset manager’s stock worth $1,135,000 after acquiring an additional 72,840 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in Manning and Napier in the 2nd quarter worth approximately $382,000. Finally, OxFORD Asset Management LLP raised its holdings in Manning and Napier by 289.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 69,767 shares of the asset manager’s stock worth $303,000 after acquiring an additional 51,867 shares during the last quarter. Institutional investors own 51.19% of the company’s stock.

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About Manning and Napier

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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