Manning & Napier (NYSE:MN) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Manning & Napier (NYSE:MN – Get Rating) in a note issued to investors on Tuesday. The firm set a “strong-buy” rating on the asset manager’s stock.

Manning & Napier stock opened at $12.74 on Tuesday. The firm has a market capitalization of $235.26 million, a P/E ratio of 10.80 and a beta of 2.89. The stock has a fifty day moving average price of $9.63 and a 200 day moving average price of $8.90. Manning & Napier has a 52 week low of $6.95 and a 52 week high of $12.91.

Manning & Napier (NYSE:MN – Get Rating) last posted its quarterly earnings results on Tuesday, February 8th. The asset manager reported $0.35 earnings per share (EPS) for the quarter. Manning & Napier had a return on equity of 34.54% and a net margin of 17.25%. The firm had revenue of $37.82 million during the quarter.

Hedge funds have recently bought and sold shares of the business. Barclays PLC grew its position in Manning & Napier by 243.4% during the third quarter. Barclays PLC now owns 4,430 shares of the asset manager’s stock valued at $40,000 after acquiring an additional 3,140 shares during the period. Marshall Wace LLP purchased a new stake in shares of Manning & Napier in the fourth quarter worth about $57,000. Hillsdale Investment Management Inc. boosted its position in shares of Manning & Napier by 48.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 9,200 shares of the asset manager’s stock worth $76,000 after buying an additional 3,000 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Manning & Napier by 144.8% in the fourth quarter. JPMorgan Chase & Co. now owns 9,696 shares of the asset manager’s stock worth $81,000 after buying an additional 5,736 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in shares of Manning & Napier in the fourth quarter worth about $90,000. 54.44% of the stock is owned by hedge funds and other institutional investors.

About Manning & Napier (Get Rating)

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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