StockNews.com Begins Coverage on Pzena Investment Management (NYSE:PZN)

Equities research analysts at StockNews.com initiated coverage on shares of Pzena Investment Management (NYSE:PZNGet Rating) in a research report issued on Friday. The brokerage set a “hold” rating on the asset manager’s stock.

Pzena Investment Management Price Performance

NYSE:PZN opened at $9.65 on Friday. The firm has a 50-day moving average of $9.59 and a 200-day moving average of $8.39. The company has a market cap of $713.07 million, a PE ratio of 13.79 and a beta of 1.31. Pzena Investment Management has a one year low of $6.07 and a one year high of $11.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Iat Reinsurance Co. LTD. purchased a new stake in shares of Pzena Investment Management during the 1st quarter valued at approximately $3,328,000. Gabelli Funds LLC lifted its stake in shares of Pzena Investment Management by 60.7% during the 3rd quarter. Gabelli Funds LLC now owns 465,319 shares of the asset manager’s stock valued at $4,411,000 after buying an additional 175,782 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Pzena Investment Management by 66.2% during the 3rd quarter. Gamco Investors INC. ET AL now owns 313,285 shares of the asset manager’s stock worth $2,970,000 after acquiring an additional 124,785 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Pzena Investment Management during the 3rd quarter worth approximately $1,077,000. Finally, Ergoteles LLC bought a new stake in Pzena Investment Management during the 3rd quarter worth approximately $1,023,000. 14.93% of the stock is currently owned by hedge funds and other institutional investors.

About Pzena Investment Management

(Get Rating)

Pzena Investment Management, Inc is a employee owned investment manager. The firm manages equity mutual funds for its clients. It invests in the public equity markets. The firm provides its services to Individuals, high net worth individuals, investment companies, pooled investment vehicles, charitable organizations, pension and profit sharing plans, state or municipal government entities, charitable organizations, other investment advisers, insurance companies, sovereign wealth funds and foreign official institutions, corporations or other businesses.

Further Reading

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