Foundry Partners LLC acquired a new position in shares of Cowen Group, Inc. (NASDAQ:COWN) during the second quarter, Holdings Channel reports. The firm acquired 332,750 shares of the financial services provider’s stock, valued at approximately $5,407,000.

Several other hedge funds also recently added to or reduced their stakes in COWN. Sei Investments Co. bought a new stake in Cowen Group during the second quarter worth about $119,000. Russell Investments Group Ltd. bought a new stake in Cowen Group during the fourth quarter worth about $143,000. American International Group Inc. raised its stake in Cowen Group by 7.2% in the first quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock worth $235,000 after buying an additional 1,051 shares during the last quarter. Blair William & Co. IL raised its stake in Cowen Group by 6.9% in the first quarter. Blair William & Co. IL now owns 17,975 shares of the financial services provider’s stock worth $269,000 after buying an additional 1,166 shares during the last quarter. Finally, Croft Leominster Inc. bought a new stake in Cowen Group during the first quarter worth about $374,000. Institutional investors own 81.32% of the company’s stock.

Cowen Group, Inc. (COWN) opened at 16.40 on Monday. Cowen Group, Inc. has a 52 week low of $11.60 and a 52 week high of $16.95. The firm has a 50-day moving average price of $16.31 and a 200-day moving average price of $15.09. The company’s market capitalization is $506.46 million.

Cowen Group (NASDAQ:COWN) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.12. The business had revenue of $171.90 million for the quarter, compared to analysts’ expectations of $169.54 million. Cowen Group had a return on equity of 1.92% and a net margin of 1.00%. The business’s quarterly revenue was up 113.8% on a year-over-year basis. During the same period last year, the firm earned ($0.11) earnings per share. Analysts anticipate that Cowen Group, Inc. will post $1.65 EPS for the current fiscal year.

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A number of analysts recently issued reports on COWN shares. BidaskClub lowered Cowen Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Instinet reiterated a “neutral” rating and set a $18.00 price objective (up from $17.00) on shares of Cowen Group in a research note on Friday. Finally, Nomura boosted their price objective on Cowen Group from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday.

In other Cowen Group news, major shareholder Peter A. Cohen sold 133,202 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $0.37, for a total transaction of $49,284.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Peter A. Cohen sold 194,349 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $0.39, for a total value of $75,796.11. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,049,914 shares of company stock worth $300,237. Insiders own 6.20% of the company’s stock.

About Cowen Group

Cowen Inc, formerly 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 private equity structures, registered investment companies and listed investment vehicles.

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Institutional Ownership by Quarter for Cowen Group (NASDAQ:COWN)

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