Cowen Group (NASDAQ:COWN) Director Peter A. Cohen Sells 24,000 Shares

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.

Cowen Group announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 15th that allows the company to repurchase $23.60 million in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

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.

Insider Buying and Selling by Quarter for Cowen Group (NASDAQ:COWN)

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