Zacks: Pzena Investment Management, Inc. (PZN) Given $8.50 Consensus Target Price by Analysts

Shares of Pzena Investment Management, Inc. (NYSE:PZN) have earned a consensus broker rating score of 3.00 (Hold) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold recommendation.

Brokerages have set a twelve-month consensus price target of $8.50 for the company and are anticipating that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also given Pzena Investment Management an industry rank of 249 out of 256 based on the ratings given to its competitors.

Several research analysts have commented on the company. ValuEngine downgraded Pzena Investment Management from a “hold” rating to a “sell” rating in a report on Friday. Zacks Investment Research upgraded Pzena Investment Management from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Thursday, October 18th.

Several large investors have recently made changes to their positions in PZN. Meeder Asset Management Inc. increased its holdings in shares of Pzena Investment Management by 58.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 17,972 shares of the asset manager’s stock valued at $172,000 after acquiring an additional 6,602 shares during the period. SG Americas Securities LLC purchased a new position in shares of Pzena Investment Management in the 3rd quarter valued at $280,000. LSV Asset Management increased its holdings in shares of Pzena Investment Management by 77.6% in the 3rd quarter. LSV Asset Management now owns 41,200 shares of the asset manager’s stock valued at $393,000 after acquiring an additional 18,000 shares during the period. First Quadrant L P CA increased its holdings in shares of Pzena Investment Management by 91.8% in the 3rd quarter. First Quadrant L P CA now owns 44,440 shares of the asset manager’s stock valued at $424,000 after acquiring an additional 21,276 shares during the period. Finally, Bridgeway Capital Management Inc. increased its holdings in shares of Pzena Investment Management by 35.0% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 71,300 shares of the asset manager’s stock valued at $680,000 after acquiring an additional 18,500 shares during the period. Institutional investors and hedge funds own 17.04% of the company’s stock.

PZN traded down $0.55 during trading on Monday, hitting $8.81. 32,386 shares of the stock were exchanged, compared to its average volume of 63,387. The company has a market capitalization of $648.67 million, a P/E ratio of 13.98 and a beta of 1.30. Pzena Investment Management has a 1 year low of $8.39 and a 1 year high of $13.15.

Pzena Investment Management (NYSE:PZN) last released its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $39.58 million for the quarter, compared to the consensus estimate of $38.26 million. Pzena Investment Management had a return on equity of 16.00% and a net margin of 6.54%. Equities analysts anticipate that Pzena Investment Management will post 0.82 EPS for the current year.

About Pzena Investment Management

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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