Manning and Napier (NYSE:MN) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research cut shares of Manning and Napier (NYSE:MN) from a buy rating to a hold rating in a research note released on Tuesday, 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. “

Shares of MN stock opened at $1.95 on Tuesday. Manning and Napier has a 52-week low of $1.45 and a 52-week high of $2.88. The company has a debt-to-equity ratio of 0.13, a quick ratio of 5.11 and a current ratio of 5.11. The firm has a market capitalization of $30.25 million, a P/E ratio of 21.67 and a beta of 0.98. The stock has a 50 day moving average price of $1.90 and a 200 day moving average price of $1.81.

Manning and Napier (NYSE:MN) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.01. Manning and Napier had a return on equity of 8.13% and a net margin of 1.05%. The firm had revenue of $32.73 million during the quarter, compared to analyst estimates of $33.44 million. As a group, sell-side analysts forecast that Manning and Napier will post 0.17 EPS for the current year.

A hedge fund recently raised its stake in Manning and Napier stock. Ancora Advisors LLC lifted its stake in Manning and Napier Inc (NYSE:MN) by 30.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 790,000 shares of the asset manager’s stock after buying an additional 183,000 shares during the quarter. Ancora Advisors LLC owned approximately 5.07% of Manning and Napier worth $1,485,000 as of its most recent SEC filing. 43.54% of the stock is currently 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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