Cowen Group Inc. (NASDAQ:COWN) fell 4.9% during trading on Tuesday . The company traded as low as $3.12 and last traded at $3.13, with a volume of 223,758 shares trading hands. The stock had previously closed at $3.29.

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

The stock’s market cap is $337.25 million. The firm’s 50-day moving average price is $3.10 and its 200 day moving average price is $3.31.

Cowen Group (NASDAQ:COWN) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.12. During the same period in the previous year, the firm earned $0.05 earnings per share. The firm earned $117.23 million during the quarter, compared to analyst estimates of $99.25 million. The company’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Cowen Group Inc. will post ($0.13) EPS for the current fiscal year.

Several large investors have recently modified their holdings of COWN. Systematic Financial Management LP boosted 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. 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 period. 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 period. Finally, Wells Fargo & Company MN raised 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 worth $12,493,000 after buying an additional 135,307 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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