Shares of Cowen Group Inc. (NASDAQ:COWN) traded up 5.7% on Wednesday . The stock traded as high as $3.17 and last traded at $3.17, with a volume of 664,963 shares changing hands. The stock had previously closed at $3.00.

Separately, TheStreet upgraded shares of Cowen Group from a “hold” rating to a “buy” rating in a research report on Monday, April 18th.

The firm’s 50 day moving average is $3.10 and its 200 day moving average is $3.30. The stock’s market cap is $337.86 million.

Cowen Group (NASDAQ:COWN) last released its earnings results on Thursday, July 28th. The company reported ($0.20) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.12. The company had revenue of $117.23 million for the quarter, compared to analysts’ expectations of $99.25 million. Cowen Group’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 EPS. Analysts predict that Cowen Group Inc. will post $0.15 earnings per share for the current year.

Other institutional investors recently added to or reduced their stakes in the company. Systematic Financial Management LP boosted its position 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 last quarter. Royce & Associates LLC boosted its position in Cowen Group by 3.3% in the fourth quarter. Royce & Associates LLC now owns 2,476,310 shares of the company’s stock valued at $9,484,000 after buying an additional 78,500 shares during the last quarter. New York State Common Retirement Fund boosted its position 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 last quarter. Finally, Wells Fargo & Company MN boosted its position in Cowen Group by 4.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,261,798 shares of the company’s stock valued at $12,493,000 after buying an additional 135,307 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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