Cowen Group Inc. (COWN) Shares Down 5.6%
Cowen Group Inc. (NASDAQ:COWN) shares were 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 trading hands. The stock had previously closed at $3.37.
Separately, TheStreet downgraded shares of Cowen Group from a “buy” rating to a “hold” rating in a research report on Friday, June 3rd.
The company’s market capitalization is $340.98 million. The company’s 50 day moving average price is $3.13 and its 200 day moving average price is $3.32.
Cowen Group (NASDAQ:COWN) last issued its quarterly earnings results on Thursday, July 28th. The company reported ($0.20) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.12. During the same quarter in the prior year, the firm earned $0.05 EPS. The company earned $117.23 million during the quarter, compared to the consensus estimate of $99.25 million. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts predict that Cowen Group Inc. will post ($0.13) earnings per share for the current year.
An institutional investor recently raised its position in Cowen Group stock. Wells Fargo & Company MN increased its position in Cowen Group Inc. (NASDAQ:COWN) by 4.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor 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 3.06% of Cowen Group worth $12,493,000 at the end of the most recent reporting period.
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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