Foundry Partners LLC Invests $5.41 Million in Cowen Group, Inc. (COWN)
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.
TRADEMARK VIOLATION WARNING: “Foundry Partners LLC Invests $5.41 Million in Cowen Group, Inc. (COWN)” was reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/14/foundry-partners-llc-invests-5-41-million-in-cowen-group-inc-cown.html.
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.
Want to see what other hedge funds are holding COWN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cowen Group, Inc. (NASDAQ:COWN).
Receive News & Ratings for Cowen Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cowen Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.