Manning and Napier Inc (MN) was Resumed by Credit Suisse to “Neutral”. Credit Suisse advised their investors in a research report released on Jul 15, 2016.
On the company’s financial health, Manning and Napier Inc reported $0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.17. The company had revenue of $64.50 million for the quarter, 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 $9.93 and hit $10.19 on the upside on Wednesday, eventually ending the session at $10.06, with a gain of 2.03% or 0.2 points. The heightened volatility saw the trading volume jump to 1,17,861 shares. Company has a market cap of $151 M.
In a different news, on May 16, 2016, Geoffrey Rosenberger (director) purchased 10,000 shares at $8.95 per share price.
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.