Pzena Investment Management (PZN) Downgraded by TheStreet to C+

Pzena Investment Management (NYSE:PZN) was downgraded by analysts at TheStreet from a “b+” rating to a “c+” rating in a research report issued to clients and investors on Wednesday.

Separately, Zacks Investment Research raised Pzena Investment Management from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, October 10th.

Shares of Pzena Investment Management (NYSE:PZN) traded up $0.06 on Wednesday, hitting $10.27. The stock had a trading volume of 3,818 shares, compared to its average volume of 55,854. Pzena Investment Management has a twelve month low of $8.25 and a twelve month high of $13.15. The firm has a market capitalization of $778.60, a price-to-earnings ratio of 27.03 and a beta of 1.77.

Pzena Investment Management (NYSE:PZN) last issued its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.02. Pzena Investment Management had a return on equity of 13.39% and a net margin of 4.89%. The business had revenue of $38.91 million for the quarter, compared to analyst estimates of $37.51 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. sell-side analysts expect that Pzena Investment Management will post 0.87 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its position in Pzena Investment Management by 14.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 339,160 shares of the asset manager’s stock worth $3,693,000 after acquiring an additional 43,955 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Pzena Investment Management by 18.1% during the 2nd quarter. Northern Trust Corp now owns 223,334 shares of the asset manager’s stock valued at $2,269,000 after buying an additional 34,160 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Pzena Investment Management by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 786,395 shares of the asset manager’s stock valued at $7,990,000 after buying an additional 18,356 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Pzena Investment Management by 13.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 373,081 shares of the asset manager’s stock valued at $3,791,000 after buying an additional 44,161 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Pzena Investment Management by 48.3% during the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 74,327 shares of the asset manager’s stock valued at $809,000 after buying an additional 24,220 shares in the last quarter. 17.70% of the stock is currently owned by hedge funds and other institutional investors.

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About Pzena Investment Management

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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