Cowen Group Inc. (COWN) Stock Price Down 3.9%
Cowen Group Inc. (NASDAQ:COWN) dropped 3.9% during trading on Tuesday . The stock traded as low as $2.96 and last traded at $2.96, with a volume of 1,212,990 shares changing hands. The stock had previously closed at $3.08.
Separately, TheStreet upgraded Cowen Group from a “hold” rating to a “buy” rating in a report on Monday, April 18th.
The stock has a 50 day moving average of $3.21 and a 200 day moving average of $3.32. The company has a market capitalization of $312.52 million and a price-to-earnings ratio of 19.10.
Cowen Group (NASDAQ:COWN) last issued its earnings results on Thursday, April 28th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.08. The company earned $101 million during the quarter, compared to the consensus estimate of $101.25 million. Cowen Group’s revenue was down 16.6% compared to the same quarter last year. Analysts forecast that Cowen Group Inc. will post $0.04 EPS for the current fiscal year.
Other large investors have added to or reduced their stakes in the company. Glacier Peak Capital LLC acquired a new stake in Cowen Group during the fourth quarter valued at $1,267,000. Shell Asset Management Co. acquired a new stake in Cowen Group during the fourth quarter valued at $1,384,000. Garnet Equity Capital Holdings Inc. boosted its stake in Cowen Group by 9.9% in the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 1,000,000 shares of the company’s stock valued at $3,830,000 after buying an additional 89,900 shares during the period. Systematic Financial Management LP boosted its stake in Cowen Group by 1.1% in the fourth quarter. Systematic Financial Management LP now owns 2,185,087 shares of the company’s stock valued at $8,368,000 after buying an additional 24,705 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Cowen Group by 4.0% in the fourth quarter. New York State Common Retirement Fund now owns 2,338,844 shares of the company’s stock valued at $8,958,000 after buying an additional 89,700 shares during the period.
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 hedge funds, private equity structures, registered investment companies and listed investment vehicles.
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