Ocwen Financial Corp (NYSE:OCN) major shareholder Leon G. Cooperman bought 314,448 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were acquired at an average cost of $3.59 per share, with a total value of $1,128,868.32. Following the purchase, the insider now directly owns 1,000,000 shares of the company’s stock, valued at $3,590,000. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of Ocwen Financial Corp (NYSE:OCN) traded up $0.07 during trading hours on Friday, hitting $4.25. The company had a trading volume of 1,419,589 shares, compared to its average volume of 1,940,516. The stock has a market capitalization of $566.78, a PE ratio of -4.21 and a beta of 1.31. The company has a debt-to-equity ratio of 11.13, a quick ratio of 5.42 and a current ratio of 5.42. Ocwen Financial Corp has a one year low of $2.12 and a one year high of $5.69.
Ocwen Financial (NYSE:OCN) last issued its quarterly earnings results on Wednesday, February 28th. The financial services provider reported ($0.09) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.14. The business had revenue of $276.77 million for the quarter, compared to analyst estimates of $250.00 million. Ocwen Financial had a negative return on equity of 20.31% and a negative net margin of 10.71%. Ocwen Financial’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. analysts anticipate that Ocwen Financial Corp will post -0.85 earnings per share for the current year.
Ocwen Financial Company Profile
Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.
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