Manning & Napier (MN) Reports In-Line Q1 EPS

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Needham & Company Downgrades Manning & Napier (MN) to Hold

April 30, 2015 2:59 PM EDT

Needham & Company downgraded Manning & Napier (NYSE: MN) from Buy to Hold as asset outflows pressure AUM.

Analyst Mayank Tandon commented, "Manning & Napier reported disappointing 1Q results, driven by another quarter of net asset outflows and decreasing AUM. Revenue was slightly below consensus as AUM fell 4.6%... More