Cowen Group Inc. (COWN) Sees Strong Trading Volume
Cowen Group Inc. (NASDAQ:COWN) saw an uptick in trading volume on Wednesday . 797,030 shares were traded during mid-day trading, an increase of 24% from the previous session’s volume of 641,989 shares.The stock last traded at $3.16 and had previously closed at $3.12.
Separately, TheStreet lowered shares of Cowen Group from a “buy” rating to a “hold” rating in a research note on Friday, June 3rd.
The stock’s market capitalization is $345.24 million. The company’s 50 day moving average is $3.10 and its 200-day moving average is $3.31.
Cowen Group (NASDAQ:COWN) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.08) by $0.12. The firm earned $117.23 million during the quarter, compared to analyst estimates of $99.25 million. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. On average, equities research analysts predict that Cowen Group Inc. will post ($0.13) EPS for the current year.
Several hedge funds have modified their holdings of COWN. Wells Fargo & Company MN increased its stake in shares of 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 during the last quarter. Royce & Associates LLC increased its stake in shares of 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. New York State Common Retirement Fund increased its stake in shares of 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. Finally, Systematic Financial Management LP increased its stake in shares of 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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