Cowen Group Inc. (COWN) Trading Up 3.4%
Shares of Cowen Group Inc. (NASDAQ:COWN) were up 3.4% during trading on Wednesday . The company traded as high as $3.07 and last traded at $3.06, with a volume of 324,498 shares. The stock had previously closed at $2.96.
Separately, TheStreet upgraded Cowen Group from a “hold” rating to a “buy” rating in a research report on Monday, April 18th.
The company has a 50 day moving average price of $3.21 and a 200-day moving average price of $3.32. The stock has a market cap of $328.35 million and a P/E ratio of 20.06.
Cowen Group (NASDAQ:COWN) last released its quarterly earnings data on Thursday, April 28th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by $0.08. The company earned $101 million during the quarter, compared to analysts’ expectations of $101.25 million. The firm’s revenue was down 16.6% on a year-over-year basis. Analysts predict that Cowen Group Inc. will post $0.04 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in COWN. Glacier Peak Capital LLC purchased a new stake in Cowen Group during the fourth quarter worth about $1,267,000. 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 worth $8,958,000 after buying an additional 89,700 shares during the last quarter. 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 worth $8,368,000 after buying an additional 24,705 shares during the last quarter. 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 worth $3,830,000 after buying an additional 89,900 shares during the last quarter. Finally, Royce & Associates LLC boosted its stake in Cowen Group by 3.3% in the fourth quarter. Royce & Associates LLC now owns 2,476,310 shares of the company’s stock worth $9,484,000 after buying an additional 78,500 shares during the last quarter.
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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