Short Interest in Manning & Napier, Inc. (NYSE:MN) Drops By 24.6%


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Manning & Napier, Inc. (NYSE:MN) saw a large decline in short interest in March. As of March 31st, there was short interest totalling 23,900 shares, a decline of 24.6% from the March 15th total of 31,700 shares. Based on an average daily trading volume, of 61,000 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the shares of the stock are short sold.

Shares of Manning & Napier stock traded down $0.26 during trading on Friday, reaching $7.55. 443,049 shares of the company’s stock were exchanged, compared to its average volume of 71,492. Manning & Napier has a 1-year low of $2.53 and a 1-year high of $8.04. The company has a market cap of $129.41 million, a P/E ratio of 41.94 and a beta of 3.06. The firm’s 50-day moving average price is $7.05 and its 200 day moving average price is $5.80.

Manning & Napier (NYSE:MN) last posted its quarterly earnings results on Tuesday, February 9th. The asset manager reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.20. Manning & Napier had a return on equity of 11.30% and a net margin of 3.60%. The company had revenue of $33.51 million during the quarter.

In other news, insider Christopher Pickett Briley sold 5,300 shares of the business’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $7.48, for a total transaction of $39,644.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 12.10% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the stock. Accel Wealth Management bought a new stake in Manning & Napier during the 4th quarter worth $55,000. Mutual Advisors LLC grew its position in shares of Manning & Napier by 14.8% in the 4th quarter. Mutual Advisors LLC now owns 11,640 shares of the asset manager’s stock valued at $73,000 after buying an additional 1,500 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co grew its position in shares of Manning & Napier by 100.4% in the 4th quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 49,108 shares of the asset manager’s stock valued at $306,000 after buying an additional 24,608 shares during the last quarter. QCI Asset Management Inc. NY bought a new stake in shares of Manning & Napier in the 4th quarter valued at about $854,000. Finally, BlackRock Inc. boosted its position in shares of Manning & Napier by 1.5% during the 4th quarter. BlackRock Inc. now owns 161,784 shares of the asset manager’s stock valued at $1,015,000 after purchasing an additional 2,318 shares in the last quarter. Institutional investors and hedge funds own 31.36% of the company’s stock.

About Manning & 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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