Cowen Group Inc. (COWN) Shares Down 5.6%
Cowen Group Inc. (NASDAQ:COWN) was down 5.6% during mid-day trading on Tuesday . The company traded as low as $3.17 and last traded at $3.18, with a volume of 325,283 shares traded. The stock had previously closed at $3.37.
Separately, TheStreet cut 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 $336.72 million. The firm has a 50-day moving average price of $3.11 and a 200-day moving average price of $3.32.
Cowen Group (NASDAQ:COWN) last posted its earnings results on Thursday, July 28th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.12. The business had revenue of $117.23 million for the quarter, compared to the consensus estimate of $99.25 million. During the same quarter in the previous year, the business posted $0.05 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts expect that Cowen Group Inc. will post ($0.13) earnings per share for the current year.
Several large investors recently modified their holdings of the company. 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. 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, Wells Fargo & Company MN raised its stake in shares of Cowen Group by 4.3% in the fourth quarter. Wells Fargo & Company MN now owns 3,261,798 shares of the company’s stock worth $12,493,000 after buying an additional 135,307 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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