Tonix Pharmaceuticals Holding Corp., Manning & Napier Inc: Deerfield, Ariel Open Bullish New Positions

Ariel Investments was founded by John W. Rogers in 1983 and is currently headquartered in Chicago. The investment firm prioritizes small and mid-market cap stocks of U.S.-based companies, although it is also active in public equity markets around the globe. Furthermore, Ariel Investments employs a bottom-up approach, along with fundamental analysis, in order to pick its investments and currently boasts an equity portfolio valued at around $7.7 billion. In addition, the firm’s holdings are very balanced, with no single position accounting for even 4% of its equity portfolio.

Ariel Investments also disclosed a new addition to its equity portfolio, as well as revealing it had already increased its stake in Manning and Napier Inc (NYSE:MN) even further. The investment firm now ranks as the company’s largest shareholder among funds we track, leaving Chuck Royce’s Royce & Associates as runner-up in terms of shares. Mr. Royce’s firm actually reduced its exposure to Manning and Napier last month, yet continues to be one of its largest institutional investors, with a stake of 693,100 shares. Another fund betting on this stock is Jim Simons’ Renaissance Technologies, which holds a position of 452,200 shares, after increasing its stake in the company by 9% during the third quarter.

Despite this backing from major institutional investors, Manning and Napier Inc (NYSE:MN)’s share price has been losing ground over the past year, dropping by around 26% since last February. Furthermore, the most recent quarterly financial results announced by the U.S.-based provider of investment management products and services, also failed to impress. In fact, the company’s revenue has decreased by 6% from the previous quarter, while its assets under management also declined.

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