Cadence Capital Management LLC Sells 37,230 Shares of Pzena Investment Management Inc (PZN)

Cadence Capital Management LLC lowered its stake in Pzena Investment Management Inc (NYSE:PZN) by 43.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,520 shares of the asset manager’s stock after selling 37,230 shares during the quarter. Cadence Capital Management LLC owned about 0.07% of Pzena Investment Management worth $517,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PZN. Epoch Investment Partners Inc. raised its stake in shares of Pzena Investment Management by 34.9% in the second quarter. Epoch Investment Partners Inc. now owns 1,383,419 shares of the asset manager’s stock worth $14,055,000 after buying an additional 357,948 shares during the period. Deprince Race & Zollo Inc. raised its stake in shares of Pzena Investment Management by 29.8% in the third quarter. Deprince Race & Zollo Inc. now owns 842,134 shares of the asset manager’s stock worth $9,171,000 after buying an additional 193,117 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Pzena Investment Management by 84.4% in the second quarter. Russell Investments Group Ltd. now owns 295,205 shares of the asset manager’s stock worth $3,000,000 after buying an additional 135,095 shares during the period. Penn Capital Management Co. Inc. bought a new position in shares of Pzena Investment Management in the second quarter worth about $770,000. Finally, Nationwide Fund Advisors raised its stake in shares of Pzena Investment Management by 60.7% in the second quarter. Nationwide Fund Advisors now owns 157,340 shares of the asset manager’s stock worth $1,599,000 after buying an additional 59,450 shares during the period. 17.70% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently commented on PZN shares. Zacks Investment Research raised Pzena Investment Management from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, October 25th. ValuEngine downgraded Pzena Investment Management from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub raised Pzena Investment Management from a “sell” rating to a “hold” rating in a research note on Wednesday, August 9th.

Shares of Pzena Investment Management Inc (NYSE PZN) traded down $0.06 on Wednesday, reaching $11.03. The company had a trading volume of 22,700 shares, compared to its average volume of 57,614. The company has a market cap of $760.10, a P/E ratio of 18.80 and a beta of 1.69. Pzena Investment Management Inc has a 52 week low of $8.25 and a 52 week high of $12.70.

Pzena Investment Management (NYSE:PZN) last issued its earnings results on Tuesday, October 17th. The asset manager reported $0.17 earnings per share (EPS) for the quarter, beating the 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 return on equity of 12.92% and a net margin of 14.41%. The business’s revenue for the quarter was up 34.2% compared to the same quarter last year. equities analysts predict that Pzena Investment Management Inc will post 0.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Friday, October 27th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, October 26th. Pzena Investment Management’s dividend payout ratio (DPR) is presently 16.90%.

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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.

Institutional Ownership by Quarter for Pzena Investment Management (NYSE:PZN)

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