Cowen Group Inc. (NASDAQ:COWN)’s share price rose 5.7% during mid-day trading on Wednesday . The stock traded as high as $3.17 and last traded at $3.17, with a volume of 664,963 shares trading hands. The stock had previously closed at $3.00.

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

The firm has a 50 day moving average of $3.10 and a 200-day moving average of $3.30. The company’s market capitalization is $346.31 million.

Cowen Group (NASDAQ:COWN) last released its earnings results on Thursday, July 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.12. The business earned $117.23 million during the quarter, compared to analyst estimates of $99.25 million. During the same period in the prior year, the company earned $0.05 earnings per share. Cowen Group’s revenue was down 2.0% on a year-over-year basis. On average, analysts forecast that Cowen Group Inc. will post $0.15 EPS for the current fiscal year.

Other hedge funds have recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake 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 worth $12,493,000 after buying an additional 135,307 shares in the last quarter. New York State Common Retirement Fund raised 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 worth $8,958,000 after buying an additional 89,700 shares during the last quarter. Royce & Associates LLC raised 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 worth $9,484,000 after buying an additional 78,500 shares during the last quarter. Finally, Systematic Financial Management LP raised 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 worth $8,368,000 after buying an additional 24,705 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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