Public Employees Retirement System of Ohio cut its position in shares of Ocwen Financial Corporation (NYSE:OCN) by 9.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,495 shares of the financial services provider’s stock after selling 2,953 shares during the period. Public Employees Retirement System of Ohio’s holdings in Ocwen Financial Corporation were worth $156,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in OCN. First Quadrant L P CA boosted its stake in shares of Ocwen Financial Corporation by 0.3% in the first quarter. First Quadrant L P CA now owns 336,199 shares of the financial services provider’s stock worth $1,839,000 after buying an additional 1,000 shares during the period. Alliancebernstein L.P. raised its position in Ocwen Financial Corporation by 0.7% in the first quarter. Alliancebernstein L.P. now owns 143,140 shares of the financial services provider’s stock worth $783,000 after buying an additional 1,000 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in Ocwen Financial Corporation by 1.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 69,397 shares of the financial services provider’s stock worth $374,000 after buying an additional 1,178 shares in the last quarter. American International Group Inc. raised its position in Ocwen Financial Corporation by 7.1% in the first quarter. American International Group Inc. now owns 61,957 shares of the financial services provider’s stock worth $339,000 after buying an additional 4,088 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in Ocwen Financial Corporation by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 112,253 shares of the financial services provider’s stock worth $605,000 after buying an additional 5,103 shares in the last quarter. 47.33% of the stock is owned by hedge funds and other institutional investors.

Ocwen Financial Corporation (NYSE OCN) traded down 2.08% on Friday, reaching $2.83. 408,156 shares of the company’s stock were exchanged. The firm’s market capitalization is $370.33 million. Ocwen Financial Corporation has a 1-year low of $2.12 and a 1-year high of $6.15. The stock’s 50 day moving average price is $2.81 and its 200 day moving average price is $3.74.

Ocwen Financial Corporation (NYSE:OCN) last released its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported ($0.36) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.17. Ocwen Financial Corporation had a negative return on equity of 12.41% and a negative net margin of 5.95%. The firm had revenue of $311.30 million during the quarter, compared to analyst estimates of $295.33 million. During the same period last year, the business earned ($0.71) EPS. The firm’s revenue was down 16.6% on a year-over-year basis. On average, analysts expect that Ocwen Financial Corporation will post ($1.21) earnings per share for the current year.

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A number of research analysts have commented on the stock. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ocwen Financial Corporation in a research note on Saturday, April 22nd. Zacks Investment Research lowered shares of Ocwen Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. ValuEngine upgraded shares of Ocwen Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Piper Jaffray Companies upgraded shares of Ocwen Financial Corporation from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $2.00 to $3.50 in a research note on Monday, May 1st. Finally, Compass Point lowered shares of Ocwen Financial Corporation from a “buy” rating to a “neutral” rating in a research note on Tuesday, May 2nd. They noted that the move was a valuation call. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $3.75.

About Ocwen Financial Corporation

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.

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Institutional Ownership by Quarter for Ocwen Financial Corporation (NYSE:OCN)

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