Cowen Group Inc. (COWN) Stock Price Up 3.4%
Cowen Group Inc. (NASDAQ:COWN)’s share price rose 3.4% during trading on Wednesday . The stock traded as high as $3.07 and last traded at $3.06, with a volume of 324,498 shares trading hands. The stock had previously closed at $2.96.
Separately, TheStreet upgraded shares of Cowen Group from a “hold” rating to a “buy” rating in a research note on Monday, April 18th.
The company has a market cap of $325.19 million and a P/E ratio of 19.87. The company’s 50-day moving average is $3.19 and its 200 day moving average is $3.32.
Cowen Group (NASDAQ:COWN) last posted its quarterly earnings results on Thursday, April 28th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.03 by $0.08. The business earned $101 million during the quarter, compared to the consensus estimate of $101.25 million. Cowen Group’s revenue was down 16.6% on a year-over-year basis. Equities research analysts anticipate that Cowen Group Inc. will post $0.04 EPS for the current fiscal year.
A number of hedge funds have bought and sold shares of the stock. Glacier Peak Capital LLC acquired a new stake in Cowen Group during the fourth quarter valued at approximately $1,267,000. Shell Asset Management Co. acquired a new stake in Cowen Group during the fourth quarter valued at approximately $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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