Manning & Napier Inc. (MN) Trading Down 3.2%
Manning & Napier Inc. (NYSE:MN)’s share price dropped 3.2% during trading on Thursday . The company traded as low as $9.64 and last traded at $9.74, with a volume of 71,630 shares. The stock had previously closed at $10.06.
Several brokerages recently issued reports on MN. Credit Suisse Group AG began coverage on shares of Manning & Napier in a research note on Thursday. They issued a “neutral” rating and a $9.00 target price for the company. Zacks Investment Research downgraded shares of Manning & Napier from a “buy” rating to a “hold” rating in a research note on Thursday, June 30th. Finally, Sandler O’Neill raised their target price on shares of Manning & Napier from $7.50 to $8.00 in a research note on Tuesday, April 12th. Two investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. Manning & Napier currently has an average rating of “Hold” and an average target price of $8.04.
The company has a market cap of $142.65 million and a PE ratio of 11.57. The firm’s 50-day moving average is $9.23 and its 200-day moving average is $8.20.
Manning & Napier (NYSE:MN) last posted its earnings results on Wednesday, April 27th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The business had revenue of $64.50 million for the quarter, compared to the consensus estimate of $65.50 million. The company’s revenue was down 28.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. Equities analysts anticipate that Manning & Napier Inc. will post $0.75 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Friday, July 15th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 6.74%. The ex-dividend date of this dividend is Wednesday, July 13th.
In other Manning & Napier news, Director Geoffrey Rosenberger purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were bought at an average cost of $9.02 per share, for a total transaction of $90,200.00. Following the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $17,138. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Other hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Manning & Napier by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 194,520 shares of the company’s stock worth $1,651,000 after buying an additional 5,316 shares during the last quarter. Royce & Associates LLC raised its position in shares of Manning & Napier by 7.0% in the fourth quarter. Royce & Associates LLC now owns 712,392 shares of the company’s stock worth $6,048,000 after buying an additional 46,400 shares during the last quarter. Boston Partners bought a new position in shares of Manning & Napier during the fourth quarter worth approximately $1,208,000. Finally, LSV Asset Management raised its position in shares of Manning & Napier by 0.8% in the fourth quarter. LSV Asset Management now owns 263,577 shares of the company’s stock worth $2,237,000 after buying an additional 2,200 shares during the last quarter.
Manning & Napier, Inc (Manning & Napier) is an independent investment management firm that provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds, as well as a range of consultative services. The Company offers equity, fixed income and alternative strategies, as well as a range of blended asset portfolios, such as life cycle funds.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.