Pzena Investment Management (NYSE:PZN) Cut to “Buy” at StockNews.com

Pzena Investment Management (NYSE:PZN – Get Rating) was downgraded by analysts at StockNews.com from a strong-buy rating to a buy rating in a research report issued on Friday.

Pzena Investment Management Trading Up 0.1%

PZN traded up $0.01 during trading hours on Friday, reaching $9.49. 126,239 shares of the company exchanged hands, compared to its average volume of 91,635. Pzena Investment Management has a 12 month low of $6.07 and a 12 month high of $11.75. The company has a 50-day moving average of $7.11 and a 200-day moving average of $7.74. The company has a market cap of $701.24 million, a P/E ratio of 11.57 and a beta of 1.39.

Institutional investors influence Pzena investment management

Several large investors have recently added to or reduced their stakes in PZN. Iat Reinsurance Co. LTD. purchased a new stake in Pzena Investment Management during the 1st quarter valued at about $3,328,000. Boston Partners purchased a new stake in shares of Pzena Investment Management in the 4th quarter valued at approximately $3,005,000. Gabelli Funds LLC grew its position in shares of Pzena Investment Management by 206.3% in the 1st quarter. Gabelli Funds LLC now owns 195,387 shares of the asset manager’s stock valued at $1,567,000 after purchasing an additional 131,594 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Pzena Investment Management in the 4th quarter valued at $700,000. Finally, Gamco Investors INC. ET AL raised its position in shares of Pzena Investment Management by 60.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 128,209 shares of the asset manager’s stock valued at $1,028,000 after purchasing an additional 48,209 shares during the last quarter. 14.54% of the stock belongs to hedge funds and other institutional investors.

Pzena Investment Management company profile

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Pzena Investment Management, Inc is an employee-owned investment manager. The company manages equity mutual funds for its clients. It invests in the public stock markets. The firm provides its services to individuals, high net worth individuals, investment companies, pooled investment vehicles, charities, pension and benefit plans, state or municipal bodies, charities, other investment advisers, insurance companies, sovereign wealth funds and foreign official institutions, companies or other businesses.

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