Pzena Investment Management (NYSE:PZN) Trading 7.8% Higher

Pzena Investment Management, Inc. (NYSE:PZN) shares traded up 7.8% on Wednesday . The company traded as high as $9.20 and last traded at $9.07, 102,278 shares were traded during mid-day trading. An increase of 84% from the average session volume of 55,590 shares. The stock had previously closed at $8.41.

A number of analysts have recently issued reports on PZN shares. Zacks Investment Research cut shares of Pzena Investment Management from a “buy” rating to a “hold” rating in a research note on Tuesday, June 25th. ValuEngine cut shares of Pzena Investment Management from a “hold” rating to a “sell” rating in a research note on Wednesday, June 19th.

The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.16. The stock has a fifty day simple moving average of $8.01 and a 200 day simple moving average of $8.71. The firm has a market capitalization of $564.47 million, a P/E ratio of 11.78 and a beta of 1.19.

Pzena Investment Management (NYSE:PZN) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $0.18 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.18. Pzena Investment Management had a return on equity of 14.67% and a net margin of 8.77%. The firm had revenue of $37.84 million during the quarter, compared to analyst estimates of $39.13 million.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, July 30th were issued a $0.03 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $0.12 dividend on an annualized basis and a yield of 1.32%. Pzena Investment Management’s dividend payout ratio is presently 15.58%.

Hedge funds have recently bought and sold shares of the business. Chicago Equity Partners LLC purchased a new position in shares of Pzena Investment Management in the second quarter worth $153,000. Strs Ohio increased its holdings in Pzena Investment Management by 3.9% in the 2nd quarter. Strs Ohio now owns 67,400 shares of the asset manager’s stock valued at $578,000 after acquiring an additional 2,500 shares during the last quarter. Great Lakes Advisors LLC increased its holdings in Pzena Investment Management by 64.7% in the 1st quarter. Great Lakes Advisors LLC now owns 189,225 shares of the asset manager’s stock valued at $1,531,000 after acquiring an additional 74,323 shares during the last quarter. First Quadrant L P CA lifted its stake in Pzena Investment Management by 3.2% in the 2nd quarter. First Quadrant L P CA now owns 129,800 shares of the asset manager’s stock worth $1,115,000 after purchasing an additional 4,082 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its stake in Pzena Investment Management by 3.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,781,489 shares of the asset manager’s stock worth $14,412,000 after purchasing an additional 61,366 shares in the last quarter. Institutional investors and hedge funds own 17.34% of the company’s stock.

Pzena Investment Management Company Profile (NYSE:PZN)

Pzena Investment Management, Inc is a publicly owned investment manager. The firm manages equity mutual funds for its clients. It invests in the public equity markets. Pzena Investment Management, Inc was founded in 2007 and is based in New York City with additional offices in Melbourne, Australia and London, United Kingdom.

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