Ocwen Financial Corporation (NYSE:OCN) shares traded up 8.1% during trading on Monday . The company traded as high as $2.45 and last traded at $2.41, with a volume of 1,541,283 shares trading hands. The stock had previously closed at $2.23.

OCN has been the subject of several recent research reports. Compass Point decreased their target price on shares of Ocwen Financial Corporation from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Thursday, April 28th. Zacks Investment Research raised shares of Ocwen Financial Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 2nd. Piper Jaffray Cos. decreased their target price on shares of Ocwen Financial Corporation to $2.00 in a research report on Monday. Oppenheimer Holdings Inc. reissued a “” rating on shares of Ocwen Financial Corporation in a research report on Tuesday, August 2nd. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Ocwen Financial Corporation from $5.00 to $3.00 and set a “market perform” rating for the company in a research report on Thursday, July 28th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. Ocwen Financial Corporation presently has a consensus rating of “Hold” and an average target price of $3.93.

The firm has a 50 day moving average price of $1.75 and a 200 day moving average price of $2.78. The stock’s market capitalization is $285.79 million.

Ocwen Financial Corporation (NYSE:OCN) last announced its earnings results on Wednesday, July 27th. The company reported ($0.71) EPS for the quarter, missing the consensus estimate of ($0.43) by $0.28. The business had revenue of $373.05 million for the quarter, compared to analysts’ expectations of $324.05 million. The business’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.08 EPS. On average, equities analysts anticipate that Ocwen Financial Corporation will post ($2.20) EPS for the current fiscal year.

A number of hedge funds recently made changes to their positions in the company. Rhumbline Advisers increased its stake in shares of Ocwen Financial Corporation by 4.0% in the fourth quarter. Rhumbline Advisers now owns 155,775 shares of the company’s stock valued at $1,086,000 after buying an additional 5,930 shares during the period. California State Teachers Retirement System increased its stake in shares of Ocwen Financial Corporation by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 199,120 shares of the company’s stock valued at $1,388,000 after buying an additional 3,606 shares during the period. Finally, California Public Employees Retirement System increased its stake in shares of Ocwen Financial Corporation by 10.3% in the fourth quarter. California Public Employees Retirement System now owns 441,100 shares of the company’s stock valued at $3,074,000 after buying an additional 41,300 shares during the period.

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, operates as a mortgage company. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its core residential servicing business.

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