Wagner Bowman Management Corp Sells 47,966 Shares of Manning and Napier Inc (NYSE:MN)

Wagner Bowman Management Corp lessened its position in Manning and Napier Inc (NYSE:MN) by 73.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,571 shares of the asset manager’s stock after selling 47,966 shares during the quarter. Wagner Bowman Management Corp owned approximately 0.11% of Manning and Napier worth $30,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC grew its stake in Manning and Napier by 37.4% in the second quarter. Millennium Management LLC now owns 217,117 shares of the asset manager’s stock valued at $673,000 after purchasing an additional 59,067 shares in the last quarter. Bridgeway Capital Management Inc. grew its stake in Manning and Napier by 91.7% in the third quarter. Bridgeway Capital Management Inc. now owns 219,500 shares of the asset manager’s stock valued at $648,000 after purchasing an additional 105,000 shares in the last quarter. Ancora Advisors LLC grew its stake in Manning and Napier by 57.5% in the third quarter. Ancora Advisors LLC now owns 400,000 shares of the asset manager’s stock valued at $1,180,000 after purchasing an additional 146,000 shares in the last quarter. Finally, Virginia National Bank bought a new position in Manning and Napier in the third quarter valued at approximately $1,192,000. 46.79% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MN opened at $2.25 on Thursday. Manning and Napier Inc has a 12 month low of $1.65 and a 12 month high of $3.85. The company has a market cap of $34.35 million, a PE ratio of 10.23 and a beta of 1.41.

Manning and Napier (NYSE:MN) last issued its earnings results on Tuesday, February 5th. The asset manager reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). Manning and Napier had a return on equity of 12.25% and a net margin of 1.98%. The business had revenue of $37.44 million for the quarter, compared to the consensus estimate of $38.21 million. On average, research analysts anticipate that Manning and Napier Inc will post 0.17 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the company. Zacks Investment Research downgraded Manning and Napier from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 30th. ValuEngine downgraded Manning and Napier from a “hold” rating to a “sell” rating in a research note on Friday, November 30th.

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About Manning and Napier

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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Institutional Ownership by Quarter for Manning and Napier (NYSE:MN)

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