Cowen Group Inc. (COWN) Trading 2.1% Higher
Shares of Cowen Group Inc. (NASDAQ:COWN) traded up 2.1% during mid-day trading on Monday . The company traded as high as $3.40 and last traded at $3.34, with a volume of 504,288 shares changing hands. The stock had previously closed at $3.27.
Separately, TheStreet downgraded shares of Cowen Group from a “buy” rating to a “hold” rating in a report on Friday, June 3rd.
The stock’s market capitalization is $356.97 million. The firm has a 50 day moving average price of $3.17 and a 200 day moving average price of $3.34.
Cowen Group (NASDAQ:COWN) last announced 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 firm had revenue of $117.23 million for the quarter, compared to the consensus estimate of $99.25 million. During the same period in the prior year, the company posted $0.05 EPS. Cowen Group’s revenue was down 2.0% compared to the same quarter last year. On average, analysts forecast that Cowen Group Inc. will post ($0.13) earnings per share for the current year.
A hedge fund recently raised its stake in Cowen Group stock. Wells Fargo & Company MN increased its position in Cowen Group Inc. (NASDAQ:COWN) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,261,798 shares of the company’s stock after buying an additional 135,307 shares during the period. Wells Fargo & Company MN owned 3.06% of Cowen Group worth $12,493,000 at the end of the most recent reporting 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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