Cowen Group (NASDAQ:COWN) Director Peter A. Cohen sold 24,000 shares of the firm’s stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $15.08, for a total value of $361,920.00. Following the sale, the director now directly owns 849,377 shares in the company, valued at approximately $12,808,605.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Cowen Group traded down $0.05, hitting $15.70, during trading on Tuesday, according to Marketbeat. The company’s stock had a trading volume of 167,290 shares, compared to its average volume of 367,431. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $461.95 million, a PE ratio of 13.73 and a beta of 1.27. Cowen Group has a fifty-two week low of $15.65 and a fifty-two week high of $15.85.
Cowen Group (NASDAQ:COWN) last issued its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.16. The business had revenue of $241.50 million during the quarter, compared to the consensus estimate of $220.06 million. Cowen Group had a positive return on equity of 4.33% and a negative net margin of 5.91%. The company’s quarterly revenue was up 110.1% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share.
A number of hedge funds and other institutional investors have recently modified their holdings of COWN. Ariel Investments LLC raised its stake in shares of Cowen Group by 32.9% in the fourth quarter. Ariel Investments LLC now owns 2,129,096 shares of the financial services provider’s stock worth $29,062,000 after purchasing an additional 526,822 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Cowen Group in the fourth quarter worth about $5,470,000. Garnet Equity Capital Holdings Inc. purchased a new position in shares of Cowen Group in the fourth quarter worth about $4,095,000. Gator Capital Management LLC purchased a new position in shares of Cowen Group in the fourth quarter worth about $2,715,000. Finally, Russell Investments Group Ltd. raised its stake in shares of Cowen Group by 356.9% in the first quarter. Russell Investments Group Ltd. now owns 252,642 shares of the financial services provider’s stock worth $3,334,000 after purchasing an additional 197,348 shares during the last quarter. 86.99% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the company. BidaskClub raised Cowen Group from a “hold” rating to a “buy” rating in a report on Wednesday, April 18th. Nomura raised Cowen Group from a “neutral” rating to a “buy” rating and raised their price target for the stock from $13.00 to $16.00 in a report on Friday, February 16th.
Cowen Group Company Profile
Cowen Inc, formerly Cowen Group, Inc, is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes private equity structures, registered investment companies and listed investment vehicles.
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