Cowen Group Inc. (COWN) Shares Down 1.5%
Cowen Group Inc. (NASDAQ:COWN)’s share price fell 1.5% on Monday . The stock traded as low as $3.35 and last traded at $3.37, with a volume of 469,111 shares changing hands. The stock had previously closed at $3.42.
COWN has been the topic of several analyst reports. TheStreet upgraded shares of Cowen Group from a “hold” rating to a “buy” rating in a report on Monday, April 18th. Nomura Holdings Inc. cut their target price on shares of Cowen Group from $4.60 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, March 16th.
The company has a market capitalization of $335.74 million and a P/E ratio of 20.52. The stock has a 50 day moving average of $3.25 and a 200 day moving average of $3.35.
Cowen Group (NASDAQ:COWN) last posted its earnings results on Thursday, April 28th. The company reported ($0.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.08. The business had revenue of $101 million for the quarter, compared to analysts’ expectations of $101.25 million. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. On average, analysts expect that Cowen Group Inc. will post $0.14 EPS for the current fiscal year.
Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. Shell Asset Management Co. bought a new position in Cowen Group during the fourth quarter worth about $1,384,000. Wells Fargo & Company MN increased 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 valued at $12,493,000 after buying an additional 135,307 shares during the last quarter. Garnet Equity Capital Holdings Inc. increased its position in 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 valued at $3,830,000 after buying an additional 89,900 shares during the last quarter. New York State Common Retirement Fund increased 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 valued at $8,958,000 after buying an additional 89,700 shares during the last quarter. Finally, Royce & Associates LLC increased 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 valued at $9,484,000 after buying an additional 78,500 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.
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