Shares of Cowen Group Inc. (NASDAQ:COWN) rose 2.9% on Monday . The stock traded as high as $3.50 and last traded at $3.50, with a volume of 270,666 shares changing hands. The stock had previously closed at $3.40.

Separately, TheStreet cut shares of Cowen Group from a “buy” rating to a “hold” rating in a research report on Friday, June 3rd.

The company has a 50-day moving average price of $3.21 and a 200 day moving average price of $3.37. The firm’s market cap is $402.79 million.

Cowen Group (NASDAQ:COWN) last announced its 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 period in the prior year, the company posted $0.05 earnings per share. The business had revenue of $117.23 million for the quarter, compared to analyst estimates of $99.25 million. The company’s revenue was down 2.0% compared to the same quarter last year. On average, equities analysts forecast 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 raised its position in shares of Cowen Group Inc. (NASDAQ:COWN) by 4.3% during the fourth quarter, according to its most recent Form 13F 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 approximately 3.06% of Cowen Group worth $12,493,000 as of its most recent SEC filing.

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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