Manning and Napier Inc (MN) Releases Earnings Results, Beats Expectations By $0.01 EPS

Manning and Napier Inc (MN) reported quarterly earnings results on Wednesday, Apr-27-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.17. The company posted revenue of $64.50 million in the period, compared to analysts expectations of $66.25 million. The company’s revenue was down -28.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.

Manning and Napier Inc opened for trading at $8.44 and hit $8.62 on the upside on Friday, eventually ending the session at $8.55, with a gain of 0.83% or 0.07 points. The heightened volatility saw the trading volume jump to 74,956 shares. Company has a market cap of $126 M.

Manning & Napier Inc. (Manning & Napier) is an independent investment management firm that provides a range of investment solutions through separately managed accounts mutual funds and collective investment trust funds as well as a range of consultative services. The Company offers equity fixed income and alternative strategies as well as a range of blended asset portfolios such as life cycle funds. The Company serves high net worth individuals and institutions including 401(k) plans pension plans Taft-Hartley plans endowments and foundations. The Company’s assets under management (AUM) were $47.8 billion as of December 31 2014. The Company offers a range of consultative services to individual and institutional clients including estate and tax planning asset and liability modeling for defined benefit pension plans retirement and health plan design analysis for employers and donor relations and planned giving services for endowment and foundation clients.

Manning and Napier Inc

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