Pzena Investment Management (NYSE:PZN) upgraded to a Buy on StockNews.com

Pzena Investment Management (NYSE:PZN – Rating Received) was downgraded to a “buy” rating from a “strong buy” rating by analysts at StockNews.com in a research note published on Friday.

Pzena Investment Management trading up 0.1%

PZN rose $0.01 during trading hours on Friday to hit $9.49. 126,239 shares of the Company were exchanged compared to an 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 of 11.57 and a beta of 1.39.

Institutional investors choose Pzena Investment Management

Several large investors have recently increased or reduced their stakes in PZN. Iat Reinsurance Co. LTD. acquired a new interest in Pzena Investment Management for approximately $3,328,000 during the first quarter. Boston Partners acquired a new interest in Pzena Investment Management stock valued at approximately $3,005,000 during the fourth quarter. Gabelli Funds LLC increased its position in Pzena Investment Management shares by 206.3% during the first quarter. Gabelli Funds LLC now owns 195,387 shares of the money manager, valued at $1,567,000, after purchasing an additional 131,594 shares last quarter. Allspring Global Investments Holdings LLC acquired a new position in Pzena Investment Management stock valued at $700,000 during the fourth quarter. Eventually, Gamco Investors INC. ET AL increased its position in shares of Pzena Investment Management by 60.3% in the first quarter. Gamco Investors INC. ET AL now owns 128,209 shares of the money manager, valued at $1,028,000, after purchasing an additional 48,209 shares last quarter. 14.54% of the shares are owned by hedge funds and other institutional investors.

Profile of Pzena Investment Management Company

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Pzena Investment Management, Inc is an employee-owned investment manager. The company manages equity funds for its clients. He invests in the public stock markets. The Company provides its services to individuals, high net worth individuals, investment companies, pooled investment vehicles, non-profit organizations, pension and profit-sharing plans, state or local government agencies, non-profit organizations, other investment advisors, insurance companies, sovereign wealth funds and foreign official institutions, corporations or other companies.

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