Manning and Napier (NYSE:MN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday.

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 cut shares of Manning and Napier from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd.

Shares of MN stock opened at $2.60 on Friday. Manning and Napier has a 52-week low of $2.57 and a 52-week high of $4.35. The company has a market capitalization of $42.14 million, a price-to-earnings ratio of 6.50 and a beta of 1.36.

Manning and Napier (NYSE:MN) last announced its quarterly earnings data on Tuesday, July 31st. The asset manager reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. Manning and Napier had a net margin of 1.12% and a return on equity of 15.12%. The firm had revenue of $41.12 million for the quarter, compared to analysts’ expectations of $40.52 million. equities research analysts predict that Manning and Napier will post 0.21 EPS for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of Manning and Napier by 7.4% during the first quarter. Dimensional Fund Advisors LP now owns 447,699 shares of the asset manager’s stock worth $1,567,000 after purchasing an additional 30,718 shares in the last quarter. Ancora Advisors LLC boosted its position in shares of Manning and Napier by 13.4% during the first quarter. Ancora Advisors LLC now owns 212,000 shares of the asset manager’s stock worth $742,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Manning and Napier by 37.4% during the second quarter. Millennium Management LLC now owns 217,117 shares of the asset manager’s stock worth $673,000 after purchasing an additional 59,067 shares in the last quarter. 54.32% of the stock is currently owned by institutional investors.

Manning and Napier Company Profile

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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