Pzena Investment Management: 47+% Potential Upside
Alpha Gen Capital
Alpha Gen Capital
Tue, Jul. 19, 4:18 PM
Mon, Jun. 27, 6:56 PM
- Pzena Investment Management (NYSE:PZN) has promoted Gary Bachman into its newly created role of chief operating officer.
- Bachman will also join the executive committee, with the moves effective July 1.
- Also, with Bachman vacating his current CFO post, Jessica Doran is taking the role of chief financial officer and treasurer after holding a number of roles at the company.
Tue, Apr. 19, 4:25 PM
Tue, Feb. 9, 10:36 PM
Tue, Feb. 9, 5:13 PM
Oct. 20, 2015, 4:23 PM
- Pzena (NYSE:PZN): Q3 EPS of $0.12
- Revenue of $30.8M (+4.1% Y/Y)
Sep. 8, 2015, 8:04 AM
- The list of downgrades is small this morning, but Pzena Investment Management (NYSE:PZN) is a recipient of one, being cut to Neutral from Overweight at JPMorgan. The price target is slashed to $9 from $13. Friday's closing price was $9.44.
- A nice run for the stock in 2015 has been more than reversed by a 18% decline over the past two months.
Jul. 21, 2015, 4:30 PM
- Pzena (NYSE:PZN): Q2 EPS of $0.14 beats by $0.02.
- Revenue of $29.5M (+5.6% Y/Y) beats by $0.5M.
Apr. 22, 2015, 1:20 PM
- "We have consumer staples (NYSEARCA:XLP) and healthcare stocks (NYSEARCA:XLV) trading on average at 20 times earnings and five times book value - while these stocks aren’t often thought of as value, they actually comprise 20% of the Russell 1000 Value (NYSEARCA:IWB) index," says Richard Pzena on the company (NYSE:PZN) earnings call (transcript).
- Add REITs and utilities to the mix, he continues, and it's pretty hard to call that value index "value" anymore.
- "The natural question: Is it different this time? Does this era of low interest rates presage something permanently different ... We believe that the odds of such an outcome are low."
- Though, not getting into in the subject during the earnings call, Pzena presumably remains bullish on the large-cap financial sector names (NYSEARCA:XLF) which continue to be weighed down on by ZIRP.
- Previously: Low-rate "torture" for the regional lenders (April 21)
Apr. 22, 2015, 8:05 AM
- Pzena (NYSE:PZN): Q1 EPS of $0.12 in-line.
- Revenue of $28.65M (+8.5% Y/Y) beats by $0.65M.
Feb. 11, 2015, 3:39 PM
- For years deep-value investor Richard Pzena (PZN -0.6%) has been preaching of the opportunities in financial services and mature tech, and now he's adding energy to that list.
- Not ready to hit the "buy" button yet (though he does own and is comfortable with positions in major integrated oils), Pzena and crew are spending their time digging deep into companies to understand the nuances of their business models and financial strength.
- "Our investment team is working overtime researching the full range of companies in the industry including the major integrateds, exploration and production companies, servicers and drillers. We believe we have time on our side as our long-term view of oil prices of $60 to $80 per barrel is not out of line with consensus."
- Pzena Investment Management earnings call transcript
- ETFs: XLE, ERX, VDE, OIH, XOP, ERY, FCG, DIG, PBW, GASL, DUG, IYE, XES, IEO, QCLN, IEZ, PXE, PXI, FENY, PXJ, PSCE, RYE, PUW, FXN, DDG, HECO
Feb. 11, 2015, 9:05 AM
Feb. 11, 2015, 8:58 AM
- Pzena (NYSE:PZN): Q4 EPS of $0.13 misses by $0.01.
- Revenue of $28.56M (-0.7% Y/Y) misses by $1.44M.
Aug. 30, 2014, 6:48 PM
- "Most of the reason that banks are underearning relative to their historical norms ... is economic and not regulatory," says Richard Pzena (NYSE:PZN), who remains bullish on the TBTFs. Low interest rates, weak trading, and "government persecution" are the three factors, and - should these normalize - earnings could nearly double at Bank of America (NYSE:BAC) and Citigroup (NYSE:C), though JPMorgan's (NYSE:JPM) boost would be more modest. Goldman Sachs (NYSE:GS) is another favorite.
- Broad financial ETFs: XLF, FAS, FAZ, UYG, VFH, IYF, SEF, IYG, FXO, FNCL, FINU, RWW, RYF, FINZ
- Another cheap sector is energy, says Pzena, and based on relative valuation against the broader market - whether price-to-book or price-to-earnings - the major integrated oil companies are selling near all-time lows.
- What the market is missing, says Pzena, is the nature of oil investment. The old days saw capital spending one year, and boosted volume the next. Projects nowadays are far larger and require several years of spending before returns roll in. "We think those big new projects are going to perform and produce decent returns." HIs favorites: BP, RDS.A, RDS.B, XOM, TOT.
- Broad energy ETFs: XLE, ERX, VDE, OIH, ERY, DIG, DUG, IYE, PXJ, FENY, RYE, FXN, DDG
Jul. 23, 2014, 9:02 AM
- Pzena (NYSE:PZN): Q2 EPS of $0.13 in-line.
- Revenue of $27.9M (+26.1% Y/Y) misses by $0.17M.
Mar. 31, 2014, 9:01 AM
Pzena Investment Management, Inc. is a global investment management company, which operates through Pzena Investment Management, LLC. Its investment process includes ongoing review of the companies. The company provides services such as large cap value, small cap value, mid cap value, global... More
Industry: Asset Management
Country: United States
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