Pzena Investment Management, Inc. Can’t Be More Risky. Trader Significantly Lower After A Gap Down

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The stock of Pzena Investment Management, Inc. (NYSE:PZN) gapped down by $0.04 today and has $7.51 target or 9.00% below today’s $8.25 share price. The 5 months technical chart setup indicates high risk for the $605.69 million company. The gap down was reported on Dec, 12 by Barchart.com. If the $7.51 price target is reached, the company will be worth $54.51 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 10.13% or $0.93 on December 11, hitting $8.25. About 19,330 shares traded hands. Pzena Investment Management, Inc. (NYSE:PZN) has declined 11.67% since May 11, 2015 and is downtrending. It has underperformed by 7.25% the S&P500.

According to Zacks Investment Research, “Pzena Investment Management, LLC, which will become the company’s operating company upon the consummation of the offering, is a premier value-oriented investment management firm with a record of investment excellence and exceptional client service.” Get a free copy of the Zacks research report on Pzena Investment Management, Inc. (PZN).

The institutional sentiment decreased to 0.97 in 2015 Q3. Its down 0.36, from 1.33 in 2015Q2. The ratio turned negative, as 8 funds sold all Pzena Investment Management, Inc. shares owned while 25 reduced positions. 5 funds bought stakes while 27 increased positions. They now own 8.34 million shares or 0.27% more from 8.32 million shares in 2015Q2.

Punch & Associates Investment Management Inc. holds 1.68% of its portfolio in Pzena Investment Management, Inc. for 1.38 million shares. Cacti Asset Management Llc owns 716,650 shares or 0.72% of their US portfolio. Moreover, Falcon Point Capital Llc has 0.56% invested in the company for 176,237 shares. The Illinois-based Ativo Capital Management Llc has invested 0.16% in the stock. Teton Advisors Inc., a New York-based fund reported 160,000 shares.

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