Cowen Group Inc. (COWN) Shares Down 1.8%
Cowen Group Inc. (NASDAQ:COWN) was down 1.8% during trading on Tuesday . The stock traded as low as $3.30 and last traded at $3.36, with a volume of 737,355 shares trading hands. The stock had previously closed at $3.42.
Separately, TheStreet cut shares of Cowen Group from a “buy” rating to a “hold” rating in a research report on Friday, June 3rd.
The firm’s market cap is $359.10 million. The company has a 50 day moving average of $3.17 and a 200 day moving average of $3.34.
Cowen Group (NASDAQ:COWN) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.12. During the same period in the prior year, the business posted $0.05 EPS. The business had revenue of $117.23 million for the quarter, compared to analysts’ expectations of $99.25 million. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts anticipate that Cowen Group Inc. will post ($0.13) earnings per share for the current fiscal year.
An institutional investor recently raised its position in Cowen Group stock. Schwab Charles Investment Management Inc. boosted its stake in Cowen Group Inc. (NASDAQ:COWN) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 367,441 shares of the company’s stock after buying an additional 12,447 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.34% of Cowen Group worth $1,408,000 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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