Cowen Group Inc. (COWN) Sees Large Volume Increase
Shares of Cowen Group Inc. (NASDAQ:COWN) saw unusually-strong trading volume on Wednesday . Approximately 782,776 shares traded hands during trading, an increase of 16% from the previous session’s volume of 672,834 shares.The stock last traded at $3.78 and had previously closed at $3.75.
Separately, TheStreet cut Cowen Group from a “buy” rating to a “hold” rating in a research note on Friday, June 3rd.
The company has a 50 day moving average price of $3.22 and a 200-day moving average price of $3.37. The firm’s market cap is $399.59 million.
Cowen Group (NASDAQ:COWN) last issued its quarterly earnings data 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. During the same period last year, the firm earned $0.05 earnings per share. The firm earned $117.23 million during the quarter, compared to the consensus estimate of $99.25 million. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts predict that Cowen Group Inc. will post ($0.13) earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cowen Group stock. Wells Fargo & Company MN boosted its position in Cowen Group Inc. (NASDAQ:COWN) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 about 3.06% of Cowen Group worth $12,493,000 as of its most recent filing with the SEC.
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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