Pzena Investment Management (NYSE:PZN) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of Pzena Investment Management (NYSE:PZN) from a sell rating to a hold rating in a research note issued to investors on Friday, ValuEngine reports.

Separately, Zacks Investment Research lowered Pzena Investment Management from a buy rating to a hold rating in a report on Tuesday, June 25th.

Pzena Investment Management stock traded down $0.12 during midday trading on Friday, hitting $8.83. 23,707 shares of the company were exchanged, compared to its average volume of 73,841. The firm has a market capitalization of $629.93 million, a PE ratio of 11.47 and a beta of 1.18. Pzena Investment Management has a fifty-two week low of $7.23 and a fifty-two week high of $10.48. The business has a fifty day simple moving average of $8.60 and a two-hundred day simple moving average of $8.66. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.75 and a current ratio of 2.75.

Pzena Investment Management (NYSE:PZN) last posted its earnings results on Wednesday, July 17th. The asset manager reported $0.18 EPS for the quarter, hitting the consensus estimate of $0.18. Pzena Investment Management had a return on equity of 14.67% and a net margin of 8.77%. The firm had revenue of $37.84 million for the quarter, compared to analyst estimates of $39.13 million.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in Pzena Investment Management by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 111,246 shares of the asset manager’s stock valued at $955,000 after purchasing an additional 1,642 shares during the period. Stone Ridge Asset Management LLC grew its holdings in Pzena Investment Management by 3.4% in the second quarter. Stone Ridge Asset Management LLC now owns 63,585 shares of the asset manager’s stock valued at $546,000 after purchasing an additional 2,088 shares during the period. Strs Ohio grew its holdings in Pzena Investment Management by 3.9% in the second quarter. Strs Ohio now owns 67,400 shares of the asset manager’s stock valued at $578,000 after purchasing an additional 2,500 shares during the period. Swiss National Bank grew its holdings in Pzena Investment Management by 9.9% in the second quarter. Swiss National Bank now owns 32,200 shares of the asset manager’s stock valued at $277,000 after purchasing an additional 2,900 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Pzena Investment Management by 0.4% in the second quarter. Vanguard Group Inc. now owns 806,192 shares of the asset manager’s stock valued at $6,924,000 after purchasing an additional 3,073 shares during the period. 17.34% of the stock is currently owned by institutional investors.

Pzena Investment Management Company Profile

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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