Ocwen Financial Corporation (NYSE:OCN) shot up 3.8% during trading on Tuesday . The stock traded as high as $3.34 and last traded at $3.32, with a volume of 875,000 shares. The stock had previously closed at $3.20.

Several research firms have recently commented on OCN. Piper Jaffray Cos. lowered their price objective on shares of Ocwen Financial Corporation from $2.50 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 8th. Oppenheimer Holdings Inc. reiterated a “” rating on shares of Ocwen Financial Corporation in a research note on Tuesday, August 2nd. Keefe, Bruyette & Woods lowered their price objective on shares of Ocwen Financial Corporation from $5.00 to $3.00 and set a “market perform” rating for the company in a research note on Thursday, July 28th. Zacks Investment Research upgraded shares of Ocwen Financial Corporation from a “sell” rating to a “hold” rating in a research note on Monday, May 2nd. Finally, Compass Point lowered their price objective on shares of Ocwen Financial Corporation from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Thursday, April 28th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company. Ocwen Financial Corporation presently has a consensus rating of “Hold” and an average price target of $3.93.

The firm’s market capitalization is $402.95 million. The stock’s 50-day moving average price is $2.27 and its 200-day moving average price is $2.55.

Ocwen Financial Corporation (NYSE:OCN) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.71) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by $0.28. The business had revenue of $373.05 million for the quarter, compared to the consensus estimate of $324.05 million. The company’s revenue was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.08 earnings per share. Analysts anticipate that Ocwen Financial Corporation will post ($2.24) EPS for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. 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 worth $1,086,000 after buying an additional 5,930 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Ocwen Financial Corporation by 0.5% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,650 shares of the company’s stock worth $2,214,000 after buying an additional 1,475 shares in the last quarter. 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 worth $3,074,000 after buying an additional 41,300 shares in the last quarter.

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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