Pzena Investment Management (PZN) Upgraded at ValuEngine

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

A number of other equities research analysts have also recently issued reports on the stock. TheStreet upgraded shares of Pzena Investment Management from a c+ rating to a b rating in a report on Friday, April 20th. Zacks Investment Research upgraded shares of Pzena Investment Management from a sell rating to a hold rating in a report on Tuesday, April 17th.

PZN stock opened at $9.45 on Friday. Pzena Investment Management has a 52-week low of $8.25 and a 52-week high of $13.15. The stock has a market cap of $658.91 million, a price-to-earnings ratio of 15.00 and a beta of 1.81.

Pzena Investment Management (NYSE:PZN) last released its quarterly earnings results on Thursday, April 19th. The asset manager reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. Pzena Investment Management had a net margin of 5.45% and a return on equity of 14.10%. The company had revenue of $39.25 million during the quarter, compared to analysts’ expectations of $38.62 million. equities research analysts predict that Pzena Investment Management will post 0.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 18th. Investors of record on Tuesday, May 1st were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 1.27%. The ex-dividend date was Monday, April 30th. Pzena Investment Management’s payout ratio is presently 19.05%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its stake in shares of Pzena Investment Management by 85.3% in the fourth quarter. Millennium Management LLC now owns 162,993 shares of the asset manager’s stock valued at $1,739,000 after buying an additional 75,046 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Pzena Investment Management by 7.6% in the fourth quarter. Renaissance Technologies LLC now owns 747,200 shares of the asset manager’s stock valued at $7,973,000 after buying an additional 52,800 shares during the period. Dimensional Fund Advisors LP lifted 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 buying an additional 11,181 shares during the period. Spark Investment Management LLC bought a new stake in shares of Pzena Investment Management in the fourth quarter valued at about $337,000. Finally, Stone Ridge Asset Management LLC bought a new stake in shares of Pzena Investment Management in the fourth quarter valued at about $573,000. Institutional investors and hedge funds own 17.53% of the company’s stock.

About Pzena Investment Management

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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