Zacks Investment Research downgraded shares of Pzena Investment Management (NYSE:PZN) from a buy rating to a hold rating in a report published on Saturday.

According to Zacks, “Pzena Investment Management, LLC, which will become the company’s operating company upon the consummation of the offering, is a premier value-oriented investment management firm with a record of investment excellence and exceptional client service. “

Pzena Investment Management (NYSE PZN) traded up $0.32 during trading on Friday, reaching $11.86. 59,877 shares of the company were exchanged, compared to its average volume of 42,464. The stock has a market capitalization of $812.18, a P/E ratio of 16.94 and a beta of 1.75. Pzena Investment Management has a 52 week low of $8.25 and a 52 week high of $12.70.

Pzena Investment Management (NYSE:PZN) last released its quarterly earnings results on Tuesday, October 17th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.02. The company had revenue of $36.23 million for the quarter, compared to the consensus estimate of $35.00 million. Pzena Investment Management had a net margin of 14.41% and a return on equity of 12.92%. The business’s revenue was up 34.2% on a year-over-year basis. analysts anticipate that Pzena Investment Management will post 0.6 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Epoch Investment Partners Inc. raised its stake in shares of Pzena Investment Management by 1.2% in the third quarter. Epoch Investment Partners Inc. now owns 1,399,930 shares of the asset manager’s stock valued at $15,245,000 after acquiring an additional 16,511 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Pzena Investment Management by 3.0% in the third quarter. Dimensional Fund Advisors LP now owns 384,262 shares of the asset manager’s stock valued at $4,185,000 after acquiring an additional 11,181 shares during the period. Wells Fargo & Company MN raised its stake in shares of Pzena Investment Management by 196.0% in the third quarter. Wells Fargo & Company MN now owns 51,020 shares of the asset manager’s stock valued at $556,000 after acquiring an additional 33,784 shares during the period. Trexquant Investment LP purchased a new stake in shares of Pzena Investment Management in the third quarter valued at $160,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Pzena Investment Management by 14.9% in the third quarter. Russell Investments Group Ltd. now owns 339,160 shares of the asset manager’s stock valued at $3,693,000 after acquiring an additional 43,955 shares during the period. 17.69% of the stock is currently owned by institutional investors and hedge funds.

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Pzena Investment Management Company Profile

Pzena Investment Management, Inc is a holding company. The Company is the sole managing member of Pzena Investment Management, LLC. Pzena Investment Management, LLC is an investment management company. The Company also serves as the general partner of Pzena Investment Management, LP. The Company offers institutional investment products to public and corporate pension funds, endowments, foundations and certain commingled vehicles geared toward institutional investors.

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