Manning and Napier (NYSE:MN) Downgraded by Zacks Investment Research to “Sell”

Manning and Napier (NYSE:MN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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 raised Manning and Napier from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st.

Shares of MN traded down $0.06 during trading hours on Friday, hitting $1.76. The stock had a trading volume of 91,104 shares, compared to its average volume of 52,718. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.84 and a quick ratio of 4.84. Manning and Napier has a 12 month low of $1.45 and a 12 month high of $2.88. The firm has a market capitalization of $28.43 million, a PE ratio of 8.00 and a beta of 1.09. The stock has a fifty day moving average price of $1.81 and a 200 day moving average price of $1.86.

Manning and Napier (NYSE:MN) last issued its quarterly earnings data on Thursday, October 31st. The asset manager reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.01. Manning and Napier had a return on equity of 8.04% and a net margin of 1.59%. The company had revenue of $34.18 million during the quarter, compared to analyst estimates of $34.34 million. As a group, analysts anticipate that Manning and Napier will post 0.16 EPS for the current fiscal year.

In related news, Director Edward J. Pettinella bought 25,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average cost of $1.75 per share, for a total transaction of $43,750.00. Following the completion of the transaction, the director now owns 280,273 shares of the company’s stock, valued at $490,477.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Edward J. Pettinella bought 26,754 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were bought at an average price of $1.86 per share, for a total transaction of $49,762.44. Following the completion of the transaction, the director now directly owns 473,683 shares of the company’s stock, valued at approximately $881,050.38. The disclosure for this purchase can be found here. Insiders have purchased 65,448 shares of company stock worth $116,754 over the last quarter. 6.50% of the stock is owned by company insiders.

A hedge fund recently raised its stake in Manning and Napier stock. Renaissance Technologies LLC grew its holdings in Manning and Napier Inc (NYSE:MN) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,217,699 shares of the asset manager’s stock after acquiring an additional 13,200 shares during the period. Renaissance Technologies LLC owned about 7.76% of Manning and Napier worth $2,131,000 as of its most recent filing with the Securities & Exchange Commission. 45.62% of the stock is owned by institutional investors.

About Manning and Napier

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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