Cowen Group Inc. (COWN) Trading Up 2.7%
Cowen Group Inc. (NASDAQ:COWN) rose 2.7% on Thursday . The company traded as high as $3.08 and last traded at $3.07, with a volume of 380,316 shares. The stock had previously closed at $2.99.
Several research analysts have recently issued reports on the stock. TheStreet upgraded shares of Cowen Group from a “hold” rating to a “buy” rating in a research note on Monday, April 18th. Nomura Holdings Inc. dropped their target price on shares of Cowen Group from $4.60 to $4.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 16th.
The firm’s 50-day moving average price is $3.22 and its 200 day moving average price is $3.37. The company has a market cap of $338.91 million and a P/E ratio of 20.71.
Cowen Group (NASDAQ:COWN) last announced its quarterly earnings data on Thursday, April 28th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.08. The company had revenue of $101 million for the quarter, compared to the consensus estimate of $101.25 million. Cowen Group’s revenue for the quarter was down 16.6% on a year-over-year basis. Analysts expect that Cowen Group Inc. will post $0.14 EPS for the current year.
A number of large investors recently made changes to their positions in COWN. Glacier Peak Capital LLC bought a new stake in shares of Cowen Group during the fourth quarter worth $1,267,000. Shell Asset Management Co. bought a new stake in shares of Cowen Group during the fourth quarter worth $1,384,000. Garnet Equity Capital Holdings Inc. raised its stake in shares of Cowen Group by 9.9% in the fourth quarter. Garnet Equity Capital Holdings Inc. now owns 1,000,000 shares of the company’s stock worth $3,830,000 after buying an additional 89,900 shares during the last quarter. Systematic Financial Management LP raised 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. Finally, New York State Common Retirement Fund raised 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.
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.