Could Manning & Napier, Inc. (MN) Gain Strenght After Forming Bullish Descending Triangle Pattern?

July 14, 2018 - By Marguerite Chambers

Manning & Napier, Inc. (NYSE:MN) Logo

Investors sentiment increased to 1.39 in Q1 2018. Its up 0.30, from 1.09 in 2017Q4. It improved, as 4 investors sold Manning & Napier, Inc. shares while 14 reduced holdings. 7 funds opened positions while 18 raised stakes. 8.23 million shares or 2.64% more from 8.02 million shares in 2017Q4 were reported.
Raymond James And owns 52,300 shares. Blackrock holds 148,318 shares or 0% of its portfolio. Saturna Cap Corporation holds 0% in Manning & Napier, Inc. (NYSE:MN) or 10,000 shares. Barclays Plc has 2,591 shares for 0% of their portfolio. Rmb Ltd Com invested 0.04% in Manning & Napier, Inc. (NYSE:MN). Stone Ridge Asset Mngmt Limited Liability Corp holds 22,027 shares. Yorktown Mngmt Inc owns 0.09% invested in Manning & Napier, Inc. (NYSE:MN) for 82,600 shares. Acadian Asset Lc, a Massachusetts-based fund reported 2,994 shares. 10,000 were reported by Thomas J Herzfeld Advisors Incorporated. Banc Funds Ltd Liability Corp owns 147,860 shares. Bankshares Of New York Mellon stated it has 13,625 shares. Moreover, Goldman Sachs Incorporated has 0% invested in Manning & Napier, Inc. (NYSE:MN) for 47,998 shares. Spark Ltd Liability Corp holds 0.02% of its portfolio in Manning & Napier, Inc. (NYSE:MN) for 80,200 shares. New York-based Mendon has invested 0.29% in Manning & Napier, Inc. (NYSE:MN). Hotchkis Wiley Capital Mngmt Ltd Com, California-based fund reported 113,683 shares.

The stock of Manning & Napier, Inc. (MN) formed a descending triangle with $3.26 target or 5.00 % above today’s $3.10 share price. The 7 months triangle pattern indicates low risk for the $245.70M company. If the $3.26 price target is reached, the company will be worth $12.28 million more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 3.13% or $0.1 during the last trading session, reaching $3.1. About 16,704 shares traded. Manning & Napier, Inc. (NYSE:MN) has declined 35.05% since July 14, 2017 and is downtrending. It has underperformed by 47.62% the S&P500.

Analysts await Manning & Napier, Inc. (NYSE:MN) to report earnings on August, 7. They expect $0.06 EPS, down 50.00 % or $0.06 from last year’s $0.12 per share. MN’s profit will be $4.76M for 12.92 P/E if the $0.06 EPS becomes a reality. After $0.07 actual EPS reported by Manning & Napier, Inc. for the previous quarter, Wall Street now forecasts -14.29 % negative EPS growth.

Manning & Napier, Inc. is publicly owned investment manager. The company has market cap of $245.70 million. It provides its services to net worth individuals and institutions, including 401 plans, pension plans, taft-hartley plans, endowments and foundations. It has a 15.27 P/E ratio. The firm manages separate client-focused equity and fixed income portfolios.

Manning & Napier, Inc. (NYSE:MN) Institutional Positions Chart

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