Manning & Napier Inc. (NYSE:MN) shares dropped 2.5% during mid-day trading on Thursday . The stock traded as low as $7.40 and last traded at $7.49, with a volume of 71,760 shares. The stock had previously closed at $7.68.

MN has been the topic of several recent research reports. Credit Suisse Group AG initiated coverage on shares of Manning & Napier in a report on Thursday, July 14th. They set a “neutral” rating and a $9.00 target price on the stock. Zacks Investment Research cut shares of Manning & Napier from a “buy” rating to a “hold” rating in a report on Thursday, June 30th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Manning & Napier from $9.25 to $8.75 and set a “market perform” rating on the stock in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $8.08.

The company has a market capitalization of $112.59 million and a PE ratio of 9.87. The company’s 50-day moving average is $8.13 and its 200 day moving average is $8.30.

Manning & Napier (NYSE:MN) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.01. During the same quarter in the prior year, the business posted $0.24 EPS. The company had revenue of $67.54 million for the quarter, compared to analysts’ expectations of $65.81 million. The company’s revenue for the quarter was down 22.3% compared to the same quarter last year. On average, equities research analysts anticipate that Manning & Napier Inc. will post $0.71 earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Manning & Napier stock. Dimensional Fund Advisors LP raised its position in Manning & Napier Inc. (NYSE:MN) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 194,520 shares of the company’s stock after buying an additional 5,316 shares during the period. Dimensional Fund Advisors LP owned approximately 1.32% of Manning & Napier worth $1,651,000 at the end of the most recent reporting period.

Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It 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.

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