What's Going Down at Eaton Vance?

| About: Eaton Vance (EV)

Shares of Eaton Vance (NYSE:EV) got dinged yesterday for over 11%. In this past weekend’s Barron’s, I noticed they ran a research piece from Sandler O'Neill saying that run in asset managers is overdone. That’s not really a big deal except that EV hasn’t been leading the market at all. The stock is up 70% since the market bottom in early March, but the stock was down a lot too.

I can’t be sure if the Barron’s piece caused yesterday’s selloff, but Sandler O'Neill also made it clear that they’re raising their earnings estimates for the quarter and fiscal year.

Disclosure: Long EV