Cohen & Steers on the move after earnings, upgrade

• Q3 net income of $18.2M or $0.40 per share vs. $18.3M and $0.41 a year ago. Revenue of $80.8M up 9.2% Y/Y.
• Operating margin of 40% gained 215 basis points from Q2.
• AUM of $49.7B fell from $52.3B at the end of Q2, amid market declines and $966M of outflows.
• Gabelli upgrades to a Buy from Hold.
• CNS +5%
• Previously: Cohen & Steers misses by $0.07, misses on revenue