Cowen Group Inc. (COWN) Stock Price Up 4.7%
Shares of Cowen Group Inc. (NASDAQ:COWN) rose 4.7% during trading on Monday . The stock traded as high as $3.37 and last traded at $3.37, with a volume of 520,289 shares trading hands. The stock had previously closed at $3.22.
Separately, TheStreet raised Cowen Group from a “hold” rating to a “buy” rating in a research note on Monday, April 18th.
The company’s 50 day moving average is $3.11 and its 200 day moving average is $3.32. The company’s market cap is $358.03 million.
Cowen Group (NASDAQ:COWN) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by $0.12. The business earned $117.23 million during the quarter, compared to analysts’ expectations of $99.25 million. During the same quarter last year, the company earned $0.05 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities research analysts forecast that Cowen Group Inc. will post ($0.13) earnings per share for the current year.
A number of hedge funds have added to or reduced their stakes in the stock. Wells Fargo & Company MN raised its stake 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 in the last quarter. New York State Common Retirement Fund raised its stake 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 in the last quarter. Finally, Systematic Financial Management LP raised its stake in Cowen Group by 1.1% in the fourth quarter. Systematic Financial Management LP now owns 2,185,087 shares of the company’s stock valued at $8,368,000 after buying an additional 24,705 shares in 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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