Manning and Napier (NYSE:MN) Cut to “Sell” at ValuEngine
Separately, Zacks Investment Research lowered shares of HyreCar from a “hold” rating to a “sell” rating in a research report on Thursday, March 14th.
NYSE MN traded down $0.05 on Friday, hitting $1.68. 63,707 shares of the stock were exchanged, compared to its average volume of 59,939. The company has a debt-to-equity ratio of 0.13, a current ratio of 5.70 and a quick ratio of 5.70. The business has a fifty day simple moving average of $1.84. Manning and Napier has a 52 week low of $1.65 and a 52 week high of $3.20. The stock has a market capitalization of $28.39 million, a P/E ratio of 7.64 and a beta of 1.23.
In other Manning and Napier news, Director Ebrahim Busheri sold 18,526 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $3.05, for a total value of $56,504.30. Following the transaction, the director now directly owns 92,347 shares in the company, valued at $281,658.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 6.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in Manning and Napier by 133.1% in the 4th quarter. Bank of New York Mellon Corp now owns 30,723 shares of the asset manager’s stock valued at $54,000 after buying an additional 17,545 shares during the last quarter. Ancora Advisors LLC boosted its position in Manning and Napier by 63.1% in the 4th quarter. Ancora Advisors LLC now owns 652,355 shares of the asset manager’s stock valued at $1,148,000 after buying an additional 252,355 shares during the last quarter. Karpus Management Inc. purchased a new position in Manning and Napier in the 4th quarter valued at about $449,000. Finally, Alpine Global Management LLC purchased a new position in Manning and Napier in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 47.98% of the company’s stock.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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